Paul Jeffrey
Premium
Early reports suggest Digital Bros Group, an Italian company with offices located around the globe, have purchased Kunos Simulazioni, the development studio responsible for racing simulation Assetto Corsa on both console and PC.
Very little information is known about what the new takeover by Digital Bros Group means for Assetto Corsa going forward, or even if current founders Marco Massarutto and Stefano Casillio will remain with the group following their financial windfall.
Digital Bros Group already have ties with the studio via their ownership of 505 Games, distributors of the console version of Assetto Corsa. In a statement released by the Digital Bros Group, it appears that full ownership of Kunos Simulations has been agreed, transferring ownership of Assetto Corsa and Kunos away from the current founder members Stefano Casillo and Marco Massarutto. With the news only just becoming public knowledge, further plans around how the new structure will look, who remains involved in the title and what the future will hold are short on the ground.
You can read the statement below (apologies for google translate). Stay tuned for more breaking news as it becomes available.
The statement (using Google Translate):
"Digital Bros will purchase the100% Kunos Simulations
The Board of Directors of Digital Bros, listed on the Star segment of the Italian Stock Exchange and active in the field of digital entertainment, which met today, approved the signing of an investment agreement concerning the acquisition of 100% of the share capital of the Kunos Italian developr of Simulations , Assetto Corsa S.r.l..In the same session were also beneficiaries of options discovered "2016-2026" stock option plan (the "plan"), recently approved by the shareholders, the quantities of options granted, and the unit price of subscription.
Acquisition of 100% KunosSimulationsS.r.l.
KunosSimulationsS.r.l.is an Italian company based in Formello (RM) who has many years of experience at the forefront of implementation of the main Italian carmakers simulators. Following this experience he developed and launched during the 2014 Assetto Corsa , a video game which was a great success with critics and audiences in versions 4,Sony PlayStation and Microsoft Xbox One, PCSteam,with more than1.4million copies sold worldwide to date. 505Games, the Division o fDigital Bros group that deals with international publishing of video games, has signed an agreement during the 2015 Edition of the console versions .Assetto Corsa offers to players 150 cars, reproducedin every aspect, from the automotive world leading brands such as Alfa Romeo, Audi, BMW, Ferrari, Porsche and many more. Thanks to the use of Laser Scan technology, every single detail of the most famous tracks in the world has been reproduced with the utmost level of accuracy, making the game a real sporty driving simulation. With this acquisition the Digital Bros Group intends to grow more and more as a Publisher and developer of games can be successful in the world and be always ready to meet the needs of an increasingly demanding public. The acquisition allows fullcontrol of intellectual property and the opportunity for the group to invest on future developments of new versions of Assetto Corsa benefiting from a brand extremely well located in the global market for video games. The fact that the group already holds the rights of publication of Assetto Corsa fort he console version also synergiesin terms of brand positioning and optimization of advertising at a time when the rights are to be held entirely by the group. The operation involves the acquisitionof100% of DigitalBrosS.p.A. companyKunosSimulationsS.r.l., held by two founders Stefano Casillo and Marco Magandein viajointfor a nominal pricetotalling Euro 4,341,500 euro that will be paid as follows:
The Board of Directors of Digital Bros, listed on the Star segment of the Italian Stock Exchange and active in the field of digital entertainment, which met today, approved the signing of an investment agreement concerning the acquisition of 100% of the share capital of the Kunos Italian developr of Simulations , Assetto Corsa S.r.l..In the same session were also beneficiaries of options discovered "2016-2026" stock option plan (the "plan"), recently approved by the shareholders, the quantities of options granted, and the unit price of subscription.
Acquisition of 100% KunosSimulationsS.r.l.
KunosSimulationsS.r.l.is an Italian company based in Formello (RM) who has many years of experience at the forefront of implementation of the main Italian carmakers simulators. Following this experience he developed and launched during the 2014 Assetto Corsa , a video game which was a great success with critics and audiences in versions 4,Sony PlayStation and Microsoft Xbox One, PCSteam,with more than1.4million copies sold worldwide to date. 505Games, the Division o fDigital Bros group that deals with international publishing of video games, has signed an agreement during the 2015 Edition of the console versions .Assetto Corsa offers to players 150 cars, reproducedin every aspect, from the automotive world leading brands such as Alfa Romeo, Audi, BMW, Ferrari, Porsche and many more. Thanks to the use of Laser Scan technology, every single detail of the most famous tracks in the world has been reproduced with the utmost level of accuracy, making the game a real sporty driving simulation. With this acquisition the Digital Bros Group intends to grow more and more as a Publisher and developer of games can be successful in the world and be always ready to meet the needs of an increasingly demanding public. The acquisition allows fullcontrol of intellectual property and the opportunity for the group to invest on future developments of new versions of Assetto Corsa benefiting from a brand extremely well located in the global market for video games. The fact that the group already holds the rights of publication of Assetto Corsa fort he console version also synergiesin terms of brand positioning and optimization of advertising at a time when the rights are to be held entirely by the group. The operation involves the acquisitionof100% of DigitalBrosS.p.A. companyKunosSimulationsS.r.l., held by two founders Stefano Casillo and Marco Magandein viajointfor a nominal pricetotalling Euro 4,341,500 euro that will be paid as follows:
Euro cash throughout the date of execution1 ,375,000;
Euro1,375,000 entirely in cashwithin one year from thedate of execution;
Euro1,591,500 by issuing newordinary shares150,000 Digital Brosat a unit price of 10.61Eurosequal to the arithmetic average ofquotation prices ofDigital Brossharesover the past six months.The issueis subjectto approval by theshareholders ' meetingto be convenedfor nextMarch13.
In the absence offinancial data of theKunosSimulationsS.r.l.at December 31, 2016, pricing was made assuming net worth at the same date amounted to 10,000Euros ,any variations from this value will increase or decrease of the second instalment of cash payment. KunosSimulationsS.r.l.has accomplished over the year to December 31, 2015, latest financial statements available, revenues of 3.3million and a net profit of 1.7million euros. Shareholders equity at December 31, 2015 was $3.1million. No particular form of financing has been provided for the operation that will be financed through existing credit lines and whose execution date is expected before the end ofApril 30, 2017. The agreement is binding on the parties and subject to condition precedent to effect any significant relief that will emerge from the due diligence process that will be put in place as soon as the financials to December 31, 2016 will be available and positivere solution of the shareholders of Digital Bros. The shares that will be issued in favour of two associates salespeople will be fully available at the time the Board of Directors of Digital Bros has completed the formalities"
Euro1,375,000 entirely in cashwithin one year from thedate of execution;
Euro1,591,500 by issuing newordinary shares150,000 Digital Brosat a unit price of 10.61Eurosequal to the arithmetic average ofquotation prices ofDigital Brossharesover the past six months.The issueis subjectto approval by theshareholders ' meetingto be convenedfor nextMarch13.
In the absence offinancial data of theKunosSimulationsS.r.l.at December 31, 2016, pricing was made assuming net worth at the same date amounted to 10,000Euros ,any variations from this value will increase or decrease of the second instalment of cash payment. KunosSimulationsS.r.l.has accomplished over the year to December 31, 2015, latest financial statements available, revenues of 3.3million and a net profit of 1.7million euros. Shareholders equity at December 31, 2015 was $3.1million. No particular form of financing has been provided for the operation that will be financed through existing credit lines and whose execution date is expected before the end ofApril 30, 2017. The agreement is binding on the parties and subject to condition precedent to effect any significant relief that will emerge from the due diligence process that will be put in place as soon as the financials to December 31, 2016 will be available and positivere solution of the shareholders of Digital Bros. The shares that will be issued in favour of two associates salespeople will be fully available at the time the Board of Directors of Digital Bros has completed the formalities"
Who are Digital Bros?
"Operating on a global level, Digital Bros Group, strives for a product portfolio to reflect the markets in which it operates and is head-quartered in Milan, with offices in United States, Greater China, United Kingdom, France, Spain and Germany.
On 30th June 2016, the Group registered gross revenues for € 110,2 million and a growth in Net Profit, to 12,5 million from 9.1 million at 30th June 2015.
Founded in 1989 in Milan, Italy by Rami and Raffaele Galante and listed on the STAR segment of the Italian Stock Exchange since 2000, today Digital Bros is a global company combining technological evolutions with consumer habits and tastes.
Creative excellence, innovation, efficiency and coverage of any distribution channel are the key characteristics of Digital Bros’ activity. Today the majority of the revenues are derived from the International Activity 82% and for 49% from the digital business.
Today the Group operates worldwide in the video games world with the brands 505 Games and Halifax."
On 30th June 2016, the Group registered gross revenues for € 110,2 million and a growth in Net Profit, to 12,5 million from 9.1 million at 30th June 2015.
Founded in 1989 in Milan, Italy by Rami and Raffaele Galante and listed on the STAR segment of the Italian Stock Exchange since 2000, today Digital Bros is a global company combining technological evolutions with consumer habits and tastes.
Creative excellence, innovation, efficiency and coverage of any distribution channel are the key characteristics of Digital Bros’ activity. Today the majority of the revenues are derived from the International Activity 82% and for 49% from the digital business.
Today the Group operates worldwide in the video games world with the brands 505 Games and Halifax."
Assetto Corsa is a racing simulation originally released on PC and now available on both Xbox One and PlayStation 4. The game comes complete with many cars and tracks, however further vehicles and circuits can be purchased as additional DLC from the respective game stores.
If you like Assetto Corsa and wish to know more about the sim, keep up to date on the latest news or just hang around with your fellow AC fans then head over to the Assetto Corsa sub forum here at RaceDepartment. As well as publishing the latest happenings with the sim we hold a substantial modding archive containing some of the biggest and best mods available for AC. We support modding at RaceDepartment, its one of the things that make sim racing so wonderful. To help you create the best mods you can, and share in some of the limelight we have provided our Modding Discussion forum, a location where you can share your work in progress creations or ask questions of fellow knowledgeable individuals. Join in and let us know what you are working on at the moment!
What do you think about this potential takeover by Digital Bros? Is this good news for the game? Would you like to see a new direction from the new owners? Let us know in the comments section below!
