You know, when I was joking on the last Massively OP Podcast that Gamigo was becoming Daybreak, I didn’t mean it should literally buy Daybreak. But that is kinda what’s happening. As first spotted by MMO Fallout, Gamigo’s parent company, Media and Games Invest Group aka MGI, announced this morning that it’s bought 8% of Enad Global 7 aka EG7, which owns Daybreak and in fact is currently led by Daybreak’s CEO, Ji Ham. MMO Fallout notes that this purchase makes MGI EG7’s second-largest stockholder.
“MGI views EG7 as currently being undervalued,” according to the press release, and it considers this 8% investment a “strategic minority position.” If it’s undervalued, it’s likely thanks to the stock tumble EG7 took earlier this year following a bizarre Swedish interview that spooked investors and caused the EG7 board to oust its CEO, replacing him with Ji Ham. Recent events haven’t helped the market in general either.
MGI and EG7, of course, have been making headlines over the last few weeks: EG7 and Daybreak stealth-announced a Marvel MMO, DC Universe Online expansion, and Lord of the Rings Online console port, while MGI and Gamigo just lost the ArcheAge license, promised 2022 RIFT content, canned Skydome, and teased a new game rumored to be Fractured. Your only mission now is not to get these two Swedish MMO companies with three-letter acronyms mixed up (because I literally just did and had to correct it). Good luck!