Online Games Leader Bigpoint Announces Summit Partners and TA Associates to Make $350 Million Investment
By Bigpoint Gmbh, PRNEMonday, April 25, 2011
Funding Marks the Second Largest Investment Ever in an Online Gaming Company
HAMBURG, Germany, April 26, 2011 - Bigpoint GmbH, a worldwide leader in online gaming platforms, today
announced that Summit Partners and TA Associates have signed definitive
documentation to invest $350 million to recapitalize the company and position
it for continued strong global growth.
"The investment by TA Associates and Summit Partners is a validation of
Bigpoint's leadership position within the gaming industry, and will give us a
huge boost toward becoming one of the most successful gaming companies
worldwide," said Heiko Hubertz, CEO and Founder of Bigpoint. "Summit Partners
and TA Associates are supporting Bigpoint's international expansion — a
course we set out upon in recent months with the opening of new offices in
the United States and Brazil. I'm looking forward to a future partnership of
mutual trust and cooperation."
TA Associates and Summit Partners jointly will own a controlling share of
Bigpoint. Previous shareholder Comcast Interactive Capital's Peacock Equity
Fund will sell their holdings in this transaction. GMT Communications
Partners and GE will sell a majority of their stakes. Hubertz will retain his
existing ownership stake. "Regarding myself, I kept my share," said Hubertz.
"I see the potential in Bigpoint to exceed a value of one billion dollars and
become the top online gaming company in the world." Added Hubertz, "Our
thanks go to GMT Communications Partners and Peacock Equity Fund for three
very exciting years. Their support has seen the company rapidly grow during
this period."
"We received an excellent return on our initial investment," said Megumi
Ikeda, Executive Director, Comcast Interactive Capital. "While we are selling
our share, we are very optimistic about Bigpoint's future and are continuing
our operational relationship with them at NBC Universal."
Bigpoint is one of the leading companies in online games that can be
played directly in the browser. With more than 185 million registered users,
the company has a varied portfolio of internationally successful and
recognized games and brands, including Battlestar Galactica Online, Farmerama
and DarkOrbit. The company's over 700 employees are currently working on the
next generation of gaming with upcoming blockbusters such as The Mummy
Online, RamaCity and Drakensang Online. Bigpoint has offices in Hamburg,
Berlin, San Francisco, São Paolo and Malta.
John Meeks, a Managing Director at TA Associates, said, "We look forward
to making this investment in Bigpoint alongside Summit Partners. With a
highly scalable platform, revenues diversified across numerous games and
multiple geographies, and a highly attractive free-to-play model, we
anticipate significant continued growth for Bigpoint."
Scott Collins, a Managing Director at Summit Partners, said, "We look
forward to working closely with TA Associates, Heiko Hubertz and the rest of
the Bigpoint management team to continue growing this exceptional company."
Summit Partners and TA Associates will join the Bigpoint Board of
Directors, which consists of Founder Hubertz and Board Chairman Simon Guild.
Completion is subject to regulatory approval and other standard conditions.
Montgomery & Co. acted as the exclusive advisor for Bigpoint and NOAH
Advisors acted as the exclusive advisor for Summit Partners and TA Associates
in the transaction process.
Related links:
- www.bigpoint.net
- www.bigpoint.com
About Bigpoint
Bigpoint (www.bigpoint.com) is an online-game developer,
publisher, and content provider for large media concerns. Bigpoint-developed
games are played by over 185 million people in more than 30 languages, are
free-to-play anytime, anywhere, and require no download or installation.
The company's portfolio includes games of a quality that until now were
associated exclusively with CD or console games. More than 700 employees
from over 35 different nations work at the company headquarters in Hamburg,
Germany or at other locations in Berlin, San Francisco, São Paulo and Malta.
Bigpoint's many distinctions in the industry include the Mashable Best Online
Game Award for "Farmerama", the "Fastest Growing Larger Company" and
"Uniqueness of Offering" prizes at the 2010 Media Momentum Awards, as well
as the MTV Skyscraper Award for extraordinary achievement in game
development. For more information or press material, please visit the press
area at www.bigpoint.net.
About Summit Partners
Summit Partners (www.summitpartners.com) is a growth equity that
invests in rapidly growing companies. Summit Partners seeks outstanding
management teams that have built their companies to profitability and market
leadership, and provides capital for growth, recapitalizations and management
buyouts. Founded in 1984, Summit Partners has invested in more than 320
growing companies across a range of geographies and industries including
technology, education, business services, healthcare, consumer and industrial
products, among many others. With offices in Boston, London and Palo Alto,
Summit Partners has raised more than $11 billion in capital since inception.
About TA Associates
Founded in 1968, TA Associates (www.ta.com) is one of the largest
and most experienced middle-market private equity firms. The firm has
invested in over 400 companies and manages more than $16 billion in capital.
With offices in Boston, London, Menlo Park and Mumbai, TA Associates leads
buyouts and minority recapitalizations of profitable growth companies in the
technology, financial services, business services, healthcare and consumer
industries.
In the United States of America, Summit Partners operates as an
SEC-registered investment advisor. In the United Kingdom, this document is
issued by Summit Partners Limited, a firm authorized and regulated by the
Financial Services Authority. Summit Partners Limited is a limited company
registered in England and Wales with company number 4141197, and its
registered office is at 20-22 Bedford Row, London, WC1R 4JS, UK. This
document is intended solely to provide information regarding Summit Partners'
potential financing capabilities for prospective portfolio companies.
This document is approved for issue in the United Kingdom by TA
Associates Ltd., which is regulated by the Financial Services Authority.
For questions, please contact: Bigpoint GmbH Janine Griffel Head of PR T: +49-(0)40-881413-163 F: +49-(0)40-881413-7163 E: j.griffel@bigpoint.net
.
Tags: April 26, Bigpoint GmbH, Germany, Hamburg