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Highlights
- Acquisition: Streamplay has signed a binding Share Sale Agreement to acquire 100% of Noodlecake Studios, a profitable North American indie gaming company.
- Financials: Noodlecake has achieved over 270 million downloads and generated AU$42 million in revenue, with an average annual revenue of AU$7.3 million.
- Strategic Move: The acquisition strengthens Streamplay’s North American and global gaming footprint, enhancing its direct-to-consumer presence.
Streamplay Studio Limited (ASX:SP8) has announced its acquisition of Noodlecake Studios Inc., a North American indie gaming company, for 100% ownership. The deal, which aligns with Streamplay’s strategic expansion plans, was formalized through a binding Share Sale Agreement (SSA). Noodlecake, headquartered in Canada, has a strong history in the gaming industry, having been established in 2011.
A Proven Track Record
Noodlecake has published over 60 in-house and third-party games, achieving more than 270 million downloads. Over the years, the company has generated approximately AU$42 million in revenue from primary monetization channels, including premium sales, in-app purchases, advertising, and subscriptions. The company has averaged annual revenue of AU$7.3 million and EBITDA of AU$1.8 million over the past three years, showcasing a lean yet effective operating model.
Strategic Expansion
This acquisition significantly boosts Streamplay’s global reach and direct-to-consumer gaming presence across North America. Noodlecake's established relationships with leading brands such as Apple, Google, Xbox, PlayStation, Nintendo, and Steam open new opportunities for Streamplay’s growth in the gaming market. Furthermore, Noodlecake’s flexible publishing strategies complement Streamplay's diversification efforts, offering immediate geographic and revenue diversification.
The acquisition also positions Streamplay to continue its collaboration with Zplay (Noodlecake’s parent company) in the Chinese gaming market, strengthening its foothold in international markets.
Market Reaction
Following the announcement, Streamplay's shares surged by over 36%, reflecting investor optimism regarding the expanded growth potential and diversified revenue streams.
