Stillfront Group AB: Venture Fund IQ Capital has Divested All Holdings in Stillfront Group
October 10, 2017
UK Venture Investor IQ Capital has Divested All Holdings in Stillfront Group
The UK Venture Investor and Tech Specialist IQ Capital, via its fund IQ Capital Fund I, originally invested in Power Challenge, the studio behind the successful Managerzone sports management game, in 2010. Power Challenge was acquired by Stillfront Group in 2012, whereby IQ Capital became a shareholder in Stillfront Group and continued to support the company in its growth. IQ Capital held 330,598 shares in Stillfront prior to the divestment, which has taken place during the past weeks.
IQ Capital invests in private seed and early stage start-ups in the technology sector and aims to exit these within 5-6 years, when they become public companies or are acquired by larger corporates.
"I am very pleased with the development of Stillfront Group since IQ Capital became a shareholder in 2012 - the growth has been extraordinary. We have considered the 2015 IPO as a 'path to exit' event and the continued growth and strong performance of the shares since IPO gave us an opportunity to divest all of our stake - which is fully in line with our investment philosophy", says Max Bautin, Managing Partner, IQ Capital Partners LLP.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
Jörgen Larsson, CEO, Stillfront
Tel: +46 70 321 18 00
Stillfront is a group of independent creators, publishers and distributors of digital games - with a vision to become the leading group of indie game creators and publishers. Stillfront operates through eight near-autonomous subsidiaries: Bytro Labs in Germany, Coldwood Interactive in Sweden, Power Challenge in the UK and Sweden, Dorado Online Games in Malta, Simutronics in the United States, Babil Games in UAE and Jordan, eRepublik in Ireland and Romania and OFM Studios in Germany. Stillfront's games are distributed globally. The main markets are France, UK, Germany, the United States and MENA. For further information, please visit www.stillfront.com.
Stillfront's portfolio includes games across multiple platforms. Unravel, developed by Coldwood in collaboration with Electronic Arts, won 20+ awards at E3 and gamescom and was released in February 2016. Supremacy 1914 and Call of War are high-immersion war strategy games developed by Bytro Labs. ManagerZone is a sports management strategy game launched in 2001. DragonRealms and GemStone IV are MUD-style games with a very loyal player base. Lara Croft Relic Run(TM) is a popular mobile game developed by Simutronics. Tank Storm and Admiral are mobile strategy games with very strong player bases, which are published by Babil Games. World at War is a successful mobile strategy game developed and published by eRepublik Labs. Online Fussball Manager is a leading sports management game.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Stillfront Group AB via Globenewswire
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