Daybreak Game Company LLC reposted this
Daybreak Game Company LLC Acquires Singularity 6, Developer of Popular Online Game, Palia Enad Global 7 AB (“EG7”) today announced that Daybreak Games (“Daybreak”), its wholly owned subsidiary, has entered into an agreement to acquire Singularity 6 Corporation (“S6”) (the “Transaction”). Based in Los Angeles, California, S6 is the developer and publisher behind Palia, an online multiplayer life simulation game currently available in open beta on Nintendo Switch and PC. Founded in 2018, S6 is a live service, online game studio founded and led by some of the former senior game development talent from Riot Games and comprised of a highly talented AAA development team. S6 is a mission-driven organization, which has been singularly focused on creating a compelling blend of a large-scale multiplayer online world with the highly engaging gameplay experiences from best-in-class life simulation games. This unique combination successfully comes to life in Palia, where players from all over the world can experience the vibrant, immersive fantasy world together, building enduring communities for years to come. Palia is just beginning its journey and it is off to an excellent start. Palia was originally released in open beta through S6’s own PC platform in August 2023 and since then has been released on Epic Game Store, Nintendo Switch and Steam. Throughout the open beta, S6 team has continued to deliver expanded gameplay and content, driving increases in player population and engagement. Over 4 million players have come to enjoy the experience in open beta so far and as of the end of June 2024, over 100,000 players have been actively enjoying the game daily. The game’s growth trends are promising with the game reaching peak concurrent user level on Steam with its latest update in June. The game is making great progress towards the completion of version 1.0, with a plan to release across all the major platforms, broadening the distribution and increasing the potential for significant further growth in player base going forward. The rationale and the key highlights for the Transaction are as follows: A strong fit with EG7’s published long-term strategy of establishing a leading middle market publishing business An excellent alignment with Daybreak and its expertise in longtail live service and multiplayer online games Investing in a product at a later stage of development, which significantly reduces execution risks A product with a clear plan for growth through a predictable path to improvement, completion and broader distribution Expected meaningful contribution towards the group’s consolidated 2026 financial targets of SEK 3 billion in Net Revenues and SEK 1 billion in Adjusted EBITDA https://lnkd.in/dkv2u_ZX
