It sounds as if Gamigo, which is best known to modern MMORPG players for buying out Trion back in 2018, is going through some corporate transitions of its own.
Eagled-eyed players on the official RIFT forums dug up a couple of press releases from the last few weeks that suggest the German MMO company’s chief shareholder has been increasing its stake in the company, from 53% to almost everything.
A press release from February announced that Media and Games Invest had acquired an additional 1.05M Gamigo shares, bringing its stake to 98%. Yesterday’s more recent release says MGI’s “acquisition of gamigo AG [was] successfully completed” and its share in the company was now 99.9%. That’s brought about a change in the board of directors as well. As for that last one percent? “If the negotiations on the purchase of the remaining 0.1% of gamigo shares fail, a squeeze-out of these shareholders will be aimed for.”
Gamigo CEO – and MGI boss – Remco Westermann issued a statement that appears to be a parody of a business statement, but no, it’s real.
“With the complete acquisition of gamigo, MGI’s participation in gamigo’s rapidly growing profitability will almost double. The very advantageous conditions create additional value for each MGI share from day one. And last but not least, the integration will enable us to fully leverage the synergies between the companies in our group. We will simplify our structure and be able to operate even more efficiently.”
Next they’ll be exercising their core competencies to shift the paradigm.