Bigpoint showed positive signs of growth following its release of the free-to-play Battlestar Galactica Online and investors must have seen dollar signs in the publisher/developer. According to a press release made earlier today, Summit Partners and TA Associates has poured an additional $350 million into Bigpoint, gaining a controlling share of the company.
The new capital will help fund Bigpoint's future development with what it calls the "second largest investment ever in the online gaming company". Check out the official press release after the break for all the details.
Online Games Leader Bigpoint Announces Summit Partners and TA Associates to Make $350 Million Investment
- Funding marks the second largest investment ever in an online gaming company
- Founder and CEO Hubertz keeps his 30% share in Bigpoint
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 Bigpoints 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 Capitals 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 companys 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.
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