SAXUM GLOBAL advised PHOENIX GAMES on the acquisition of the global PopReach Games Portfolio and PopReach Games India

The Transaction was supported by SAXUM GLOBAL teams from Norton Rose Fulbright, Canada, IndusLaw, Bangaluru and DAC Beachcroft, London

DUBAI, DUBAI, UNITED ARAB EMIRATES, April 29, 2024 /EINPresswire.com/ -- The advisor teams of SAXUM GLOBAL, Norton Rose Fulbright, Canada, IndusLaw, India and DAC Beachcroft, UK have advised Phoenix Games Holding ("PHOENIX ") in connection with its acquisition of an extensive global games portfolio, including all shares in PopReach Games India (“PopReach Games”) from Ionik Corporation, Toronto, Canada.

PHOENIX, a globally operating gaming enterprise specializing in the acquisition and enhancement of game studios, has acquired PopReach Games, a live operations studio based in Bengaluru, India, from Ionik Corporation for a total aggregate purchase price of approximately US$ 9.8 million. The acquisition was financed “all equity” from existing cash reserves. Together with the studio, PHOENIX takes over a broad portfolio of free-to-play games that boasts more than 420 million lifetime downloads.

By this transaction, PHOENIX substantially diversifies its portfolio by including globally recognized IPs and beloved free-to-play titles on different platforms, such as Smurf's Village, Smurf's Magic Match, Gardens of Time, Kitchen Scramble games, Kingdoms of Camelot, and War of Nations as well as the Brain Training app Peak.

The acquisition of PopReach Games strengthens PHOENIX’ global presence and adds a dedicated workforce of more than 100 employees from the Indian studio.

“The acquisition of PopReach Games signifies a remarkable enhancement of our portfolio, introducing not just a team of 100 passionate professionals but also a suite of globally acclaimed IPs and games that continue to captivate millions,” states Klaas Kersting, CEO of PHOENIX. “We look forward to elevating these games to new heights with our proprietary Uplift platform and exciting new game experiences that we can craft around them.”

Ted Hastings, CEO of Ionik, adds: "It's truly remarkable that we've discovered the perfect home for our former games division, PopReach Games India, with PHOENIX, ensuring a promising and successful path ahead. This strategic move enables us to turn our full attention to our core responsibilities".

The advisory teams of SAXUM GLOBAL, Norton Rose Fulbright, IndusLaw and DAC Beachcroft, which specialize in Corporate Development Transactions with a focus on Private Equity and Venture Capital, have again advised PHOENIX on the corporate development aspects and structuring of the transaction as well as on the full scope Canadian, Indian and UK legal and tax aspects of the deal. Already in November 2023 the team has advised PHOENIX in its strategic acquisition of Sad Panda Games in Vancuver, Canada.

Advisors to PHOENIX:

SAXUM GLOBAL, Dubai, Norton Rose Fulbright, Canada, IndusLaw, Bangaluru & DAC Beachcroft, London:
Holger Scheer, Nathaniel Misri, Nikita Goyal (joint Team Lead), Anika Seidenfaden, Meredith Sawatzky, Deepansh Goyal, Matthew Darling, (all Corporate Finance/Private Equity/M&A), Bettina Carr-Allinson, Tom Sutherland (IT/IP), Jutta Schneider, John Dunlop, Dion Legge, Lokesh Shah (Tax & Structuring), as well as Benae Tutelman, Gaurav Goyal, Hilary Duholke, Joanna Tu, Katarina Wasielewski, Poojita Saxena, Sajan Atwal, Maya Medeiros.

Advisors to Ionik Corporation:

Inhouse: Amy Hastings (General Counsel to Ionik)
MLT Aikins, Toronto: Taylor M.A. Dignan and Team
JSA Law, Bangaluru: Lalu John Philip, Govind Anand and Team

About SAXUM GLOBAL:

SAXUM GLOBAL is an IT based and globally operating platform of professional service providers, consisting of Corporate Finance advisors, Legal, Financial and Tax advisors as well as IT-specialists who are specialized in all sorts of Corporate Development Transactions.

For more than 25 years our teams have processed hundreds of strategic M&A transactions, Private Equity and Venture Capital transactions, growth and leveraged financings as well as distressed transactions, both on the sale and buyside. We use cutting-edge cloud-based technology to build and coordinate tailor made teams for our customers’ projects and ongoing portfolio services.
Being able to add to our platform any professional suitable for or desired by our customers, we accept no compromises in quality or resources. We use our platform technology to support our customers with high end professional or corporate development services, such as: M&A and corporate finance services, IT analysis and integration services, financial advisory, legal advisory in all relevant areas, tax advisory and structuring, due diligence support and integration.

Our client portfolio comprises leading international Private Equity and Venture Capital Funds, enterprises from various industry sectors with a focus on IT driven or platform based business models, Family Offices and High Potential Individuals.

About Norton Rose Fulbright:

Norton Rose Fulbright is one of world’s leading law firms and provides a full scope of legal services to the world’s preeminent corporations and financial institutions. The global law firm has more than 3,000 lawyers advising clients across more than 50 locations worldwide, including London, Houston, New York, Toronto, Mexico City, Hong Kong, Sydney and Johannesburg, covering Europe, the United States, Canada, Latin America, Asia, Australia, Africa and the Middle East.

With its global business principles of quality, unity and integrity, Norton Rose Fulbright is recognized for its client service in key industries, including financial institutions; energy, infrastructure and resources; technology; transport; life sciences and healthcare; and consumer markets.

About IndusLaw:

IndusLaw is an Indian full service law firm advising clients worldwide on Indian in relation to their transactional goals, business strategies and resolution of disputes.
Founded in 2000, IndusLaw has offices in Bengaluru, Chennai, Delhi & NCR, Hyderabad, and Mumbai. The team works seamlessly across practice areas and offices, applying its experience across all transactional, advisory, regulatory and dispute resolution matters.
IndusLaw’s lawyers provide advice to corporates, investors, funds, financial institutions, borrowers, contractors, not-for profit organizations, individuals, start-ups and multi-national corporations across a range of industry sectors and on a variety of matters from regulatory and advisory, to transaction & exit structuring and dispute resolution.

About DAC Beachcroft:

DAC Beachcroft is an international law firm of over 1,100 lawyers with offices across the UK, Europe and Latin America.

DAC’s UK Corporate team comprises over 40 lawyers and works closely with specialist colleagues in other teams who provide support on taxation, finance, compliance and regulatory, employment, pensions, litigation, real estate, competition, procurement and IT, and intellectual property aspects of transactions.

DAC works domestically and internationally with a wide variety of businesses in diverse sectors.

Holger Scheer
Saxum Global Consulting FZCO
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