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Highlights
- Acquisition Completed: Noodlecake Studios Inc., a North American indie gaming leader, will officially join Streamplay on 01 January 2025.
- Acquisition Cost: Total consideration of C$8.2M (~AU$9.1M), with payments structured over three years.
- Upcoming Game Releases: Five highly anticipated titles set to launch in early 2025 across Xbox, Steam, and Nintendo Switch.
- Growth Potential: Acquisition positions Streamplay to leverage Noodlecake’s creativity and expand into new gaming markets.
Streamplay Studio Limited (ASX:SP8) has completed its acquisition of Noodlecake Studios Inc., a renowned indie gaming company, marking a pivotal step in Streamplay’s strategic expansion into the global gaming market.
Strategic Acquisition Terms
The acquisition, valued at approximately AU$9.1M, underscores Streamplay's commitment to building a diversified portfolio of creative and profitable gaming assets. Payments are staggered, allowing Streamplay to balance investment while focusing on future growth.
CEO Appointment:
Ryan Holowaty, a key executive at Noodlecake with extensive experience in publishing and partnerships, has been appointed CEO of the newly formed subsidiary. His leadership is expected to drive innovation and strategic growth within the gaming division.
Noodlecake’s Impressive Legacy
Noodlecake has developed and published over 60 games, amassing more than 270 million downloads globally. The studio has a proven track record, with lifetime revenues exceeding ~AU$42 million. Its monetisation success includes strong primary and secondary revenue streams, making it a standout acquisition for Streamplay.
Financial Performance (2019–2023):
- Average Annual Revenue: AU$7.3 million
- Average EBITDA: AU$1.8 million
Exciting 2025 Pipeline
Noodlecake is poised for a strong 2025, with five new titles slated for launch across leading platforms, including Xbox, Steam, and Nintendo Switch. These releases are anticipated to bolster revenue and expand the company's market presence.
Synergies and Growth Potential
Streamplay’s resources and expertise, combined with Noodlecake’s creative capabilities, open avenues for:
- Enhanced game development and publishing.
- Expansion into new markets and platforms.
- Increased monetisation through innovative strategies and partnerships.
Market Reaction
The acquisition aligns with Streamplay’s strategy to grow its footprint in the global gaming industry. Investors have responded positively, with the deal expected to unlock significant value for Streamplay’s shareholders.
