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Mergers, Splits, and Distribution Deals: Funko Folds in Forrest-Pruzan Creative; Hachette Grabs Gigamic

W. Eric Martin
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• On Feb. 15, 2019, Funko, Inc. — the world's largest manufacturer of pop-culture-based bobblehead figures — announced that it had acquired Seattle-based game design studio Forrest-Pruzan Creative. In recent years, FPC has been responsible for pop-culture-driven games such as Villainous, Harry Potter: Hogwarts Battle, and Choose Your Own Adventure: House of Danger, which makes it seem like an ideal fit within the Funko brand. Here's part of the press release announcing this deal:

Quote:
Funko believes that everyone is a fan of something, and this acquisition allows pop culture enthusiasts to display their fandom through multi-player interaction comprised by their favorite characters and introduces Funko to an entirely new demographic, ardent board gamers.

"We've always been incredibly impressed with FPC's portfolio and have witnessed the company make a name for itself on a global level," said Funko President Andrew Perlmutter. "As we expand our product portfolio, we believe this acquisition is in line with what we are doing with apparel, accessories and Funko Animation Studios. The games category is another avenue to deliver pop culture to our ever-growing fan base. FPC's nearly two decades of experience in developing high quality games will provide us added expertise as we leverage our existing IP and licensor portfolio into this category."

Financial terms of the deal were not disclosed, and the Company does not expect the acquisition to have a material impact on its financial performance in 2019.

Who doesn't love to display their fandom via multi-player interaction?!

• In late January 2019, Hachette Livre, the largest book publisher in France and the owner of the Hachette Book Group in the U.S. along with many other imprints, has "entered into exclusive negotiations with Jean-Christophe Gires and Stéphane Gires, the founders and directors of Gigamic, with a view to acquiring 100% of their company's share capital", according to a press release on the Hachette website.

Gigamic was founded in 1991, launching the company with the abstract strategy game Quarto, which I fondly recall demoing and selling at The Game Gallery in San Francisco. It was a different era then! Currently Gigamic publishes about fifteen new titles annually, with sales of more than €15 million. An excerpt from the press release:

Quote:
Stéphane Gires, who is 56, will continue to manage the business that he has successfully built up with his brother.

For Hachette Livre, which already publishes party games (quiz games, etc.), and which added mobile games to its portfolio in 2016, this investment is part of a strategic decision to explore the leisure activity market that sits alongside publishing, in particular all the segments of the consumer gaming market.

"We are delighted to welcome Gigamic and its great team, whose skills are naturally closely aligned with our content creation activities for the consumer market. Like all the entities that have joined the Group in recent years, Gigamic will be able to pursue its development while retaining its creative autonomy", said Arnaud Nourry, Chairman and Chief Executive Officer of Hachette Livre.

"Our many discussions have confirmed that our companies share the same DNA in terms of ethics, innovation, management and trust in our existing personnel. Gigamic is becoming part of a major French group and a market leader, which delivers a strong message to our employees, our customers and our suppliers. We feel very confident and motivated for the future", added Stéphane Gires.

• Stepping back one month further, in mid-December 2018, Greater Than Games acquired Nevermore Games, stating in a press release that "The acquisition of Nevermore Games is the culmination of several months of conversations between Nevermore Games and Greater Than Games. As our companies undergo this transition, Greater Than Games looks forward to supporting the Nevermore Games product lines and fan base."

• For an industry move in the other direction, we have this statement from Dutch publisher White Goblin Games in January 2019:

Quote:
During the previous year, we signed a deal with the Chinese company Yoka Games to produce a new localized edition of our game Bali in China.

At the time that we signed the deal, we were unaware of the previous and current history of Yoka Games, but it was recently brought to our attention that Yoka Games has been plagiarizing famous games such as BANG! and Lost Cities for many years.

Yoka Games has proven itself to be disrespectful of intellectual property rights and the work of other companies and designers. We firmly condemn this attitude, and for this reason we have decided to end our partnership with Yoka Games.
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