PlanetSide developer Daybreak bought for $300m
EG7 opens its wallet.
PlanetSide developer Daybreak has been bought for $300m.
Enad Global 7 (EG7) agreed to buy 100 per cent of the shares in San Diego MMO specialist Daybreak Game Company for $300m, on a cash and debt free basis. The deal consists of a cash payment and newly issued shares in EG7.
EG7 is a Stockholm-based company that has so far focused on helping other game companies with marketing, publishing and distribution. It owns the budget publisher Sold Out and has worked with the likes of Team17, Rebellion and Frontier.
But the company has made a recent push into owned IP and their developers. In 2019 EG7 bought Antimatter Games, the Truro, Cornwall-based studio behind the Rising Storm franchise. In November 2020, EG7 announced it had bought MechWarrior series developer Piranha Games. Daybreak, though, stands out in its portfolio of owned properties, and marks a significant push into owned IP. Daybreak owns the EverQuest, H1Z1 and PlanetSide IPs, and operates DC, Lord of the Rings and Dungeons & Dragons online games. Daybreak said it has 178 million total registered users.
"On behalf of the Daybreak team and all of our players, we are elated to be joining the EG7 family," said Daybreak executive chairman Jason Epstien.
"The combined companies are strategically positioned to expand Daybreak's unique and iconic portfolio of live games and will help amplify our passion for making great games for our awesome communities.
"I look forward to working closely with the team at EG7 to continue to deliver incredible experiences for our players around the world."
"Daybreak Games has an incredible legacy, an impressive portfolio of game franchises and the most incredible community of players combined with EG7, we are better positioned to expand on those amazing IPs, grow its development teams and player communities and fund exciting future games," said Daybreak CEO Ji Ham.
So, what's next for Daybreak? In August 2020 Daybreak announced it had bought Cold Iron Studios, which is making a mystery Alien shooter for PC and consoles. In January 2020, Daybreak switched off the PlanetSide Arena servers just three months after it launched in early access, although the developer said it remained "deeply committed" to the PlanetSide franchise.