About us

MGI ends 2022 with revenues of EUR 324m and adjusted EBITDA of EUR 93m, at the top end of the increased guidance, reflecting solid financial performance and profitability in a challenging macroeconomic environment. Growth in 2022 is mainly driven by new customers. MGI added 133 new software customers to its active portfolio, which now consists of 551 software customers. Existing client cohorts were rather flat due to market headwinds, reflected in a net dollar expansion rate of 96% in Q4’22. The addition of new software clients has enabled MGI to grow and significantly increase its market share. In terms of owned game content, the portfolio was streamlined in 2022 and the strategy continued to move towards games with significant advertising revenue and access to customer data, and away from smaller desktop-based PC games.

2021 was the first year in which organic growth was almost as strong as our inorganic growth. Operationally, more organic growth projects were launched than ever before in the Company’s history. These include new licensing, content updates, device expansion, internationalization in the games segment, as well as product innovations and the expansion of sales in the media segment. With organic growth of 38% in FY 2021, the investments in organic growth from the previous few years began to show a clearly positive effect. With the acquisition of KingsIsle in the games segment and Smaato in the media segment, two transformative transactions were successfully completed in 2021 that significantly increased the Company’s revenue and profitability. With the acquisitions of Beemray and Match2One, two additional smaller but strategically important acquisitions were completed in the media sector. On the financing side, a capital increase of EUR 90 million was completed, through which international tier-1 and long-only investors were attracted, and the bond volume of the outstanding secured bond was increased to EUR 350 million and placed in several steps. The EUR 25 million unsecured German bond was repaid ahead of schedule in October 2021.

2019 had a focus on organic growth and MGI and its subsidiaries executed various acquisitions including WildTangent’s Assets, ReachHero GmbH, AppLift GmbH and Pubnative GmbH. gamigo issued a further EUR 18 million in Bonds with a premium. MGI also executed a Bond Issue of more than EUR 10 million and a capital increase of EUR 9.2 million.

In 2018, Media and Games Invest acquired a majority stake in gamigo AG. With the acquisition, MGI continued implementing gamigo’s “BUY. INTEGRATE. BUILD & IMPROVE” strategy in the Media and Games segment and appointed Remco Westermann as Chairman of the Board. While the focus of gamigo has so far been exclusively on inorganic growth in order to achieve a critical mass, MGI decided to increase the focus on organic growth projects with immediate effect. gamigo issued EUR 32 million in bonds which were listed on Nasdaq Stockholm and FSE. The acquisition of the major assets of US-publisher and game developer Trion Worlds Inc. and signing the Arche-Age License agreement with the developer XL-Games.

(gamigo) gamigo AG repaid its 2013/ 2018 bond issued in 2013 via a term-loan from UniCredit Bank AG and acquired the video and social media specialist Mediakraft to strengthen user acquisition possibilities.

(gamigo) Since user acquisition is the second most important factor for success alongside new qualitative content, gamigo has also placed increased emphasis on media and user acquisition. However, as MGI was not satisfied with its media partners and found a very scattered media landscape (similar to games with many companies that are too small to survive on their own), the Company decided to build its own media segment. With the acquisition of Aeria Games GmbH from the media company ProSiebenSat1 Media SE, gamigo acquired its first media company in addition to an extensive games portfolio.

(gamigo) gamigo executed various acquisitions, including Looki Publishing GmbH, an independent publisher.

(gamigo) This period saw the restructuring of gamigo AG – lowering costs, ceasing risky development activities and switching to an M&A model with the aim of achieving critical mass by acquiring companies and assets. For the time being, gamigo is thus focusing exclusively on inorganic growth. gamigo reaches 30 million registered users.

(gamigo) Remco Westermann acquired 100% of the shares in gamigo AG (gaming, founded in 2000), from the German media company Axel Springer. After the acquisition of gamigo AG, the management changed the strategy towards focusing on reaching critical mass, in order to become successful as a games company. Only certain sized games companies have the strength and, especially, the user base to drive a diversified and long-term successful portfolio approach.