Avista
Video Game Briefing Partners
Highlights:
Market Cap for all public companies in global game sector is $106.6 billion
Over $2m of M&A deals in global sector (Last 30 days)
Over $136m raised in global sector (Last 30 days)
The Game Outsourcing Index is the best performing game sector index at +98.2% (LTM)
The Asia Game Index is the best performing regional game index at -21.5% (LTM)
Online Game/ Virtual World Universe has 230+ companies generating $10.3 billion in annual revenue plus we are tracking 115 additional new companies
Recent M&A Deals
Total Implied Implied Implied Implied
Transaction Enterprise Enterprise Enterprise Enterprise
Date Target/Issuer Value ($mm) Buyers/Investors Value ($mm) Value/Revenues Value/EBITDA Value/EBIT
Game Technology
08/01/2009 MaMoCa, Inc - Motion Analysis Corporation - - - -
PC, Console Games
08/06/2009 Strait Gate Games, Inc. 0.3 Entertainment Arts Research 0.3 - - -
08/05/2009 Midway Games France & UK 1.7 Spiess Media Holding UG 1.7 - - -
08/05/2009 Midway Games Germany - F+F Publishing GmbH - - - -
08/03/2009 Midway San Diego (most 0.2 THQ, Inc 0.2 - - -
assets)
Payment
08/24/2009 Twofish - Live Gamer - - - -
07/28/2009 N-Cash - Live Gamer - - - -
Online Games
08/18/2009 Agora Games - Major League Gaming - - - -
08/07/2009 MyMiniLife - Zynga - - - -
08/04/2009 J2play - Electronic Arts Inc. - - - -
August 2009 Source: Capital IQ, Company Filings, Brokers & Press 1
Avista
Video Game Briefing Partners
Recent Fundraising Deals
Total
Transaction
Date Target/Issuer Transaction Type Value ($mm) Investors
Online Games
08/19/2009 Aurora Interactive Private Placement 14.6 -
08/10/2009 ChessCube Private Placement 1.3 VenFin Ltd
08/07/2009 Wooga Private Placement - Holtzbrinck Ventures
08/07/2009 Masher Media Private Placement 0.3 Tech Coast Angels
08/06/2009 Hitogame.com Private Placement - Li Qing
08/04/2009 CondorGame Private Placement 2.2 Linekong Online (Beijing) Entertainment Tech Co
07/31/2009 Smith & Tinker Inc Private Placement - Doll Capital Management, Alsop Louie Partners, Vulcan
Capital, Leo Capital Holdings, LLC and Foundry Group.
PC, Console Games
08/04/2009 THQ Public Offering 100.0 Morgan Stanley
Payment
08/18/2009 PaymentOne Corporation Private Placement 7.0 AER Investments LLC
08/13/2009 SponsorPay Private Placement - Team Europe Ventures, Jan Beckers, and Janis Zech
08/07/2009 Jambool Private Placement 5.0 Madrona Venture Group and Bay Partners
Mobile Games
08/18/2009 Scoreloop Private Placement 2.8 Earlybird Venture Capital and Target Partners
08/12/2009 Z2live Private Placement 3.0 Madrona Venture Group
Video Game Events to be attended by Avista Partners for balance of 2009:
We will be hosting our annual Interactive Entertainment Summit in London in November 2009 which is by invitation only.
August 2009 Source: Capital IQ, Company Filings, Brokers & Press 2
Avista
Video Game Briefing Partners
Game Index Performance by sub-sector (LTM)
The Game Outsourcing Index is the best performing game sector index at +98.2%
210
190
170
150
130
110
90
70
50
30
Sep/08 Oct/08 Nov/08 Dec/08 Jan/09 Feb/09 Mar/09 Apr/09 May/09 Jun/09 Jul/09 Aug/09
S&P 500 Index Game Distributor/ Accessory Index Game Retailer Index
Mobile Game Index Game Outsourcing Index PC/ Console Game Index
Online Game Index Payment Index
Note: the companies making up each index are those listed in the corresponding comps in the following pages. The indexes are based on a weighted market cap and are rebased to 100 at the start.
August 2009 Source: Capital IQ, Company Filings, Brokers & Press 3
Avista
Video Game Briefing Partners
Game Index Performance by region (LTM)
The Asia Game Index is the best performing regional game index at -21.5%
110
100
90
80
70
60
50
40
30
Sep/08 Oct/08 Nov/08 Dec/08 Jan/09 Feb/09 Mar/09 Apr/09 May/09 Jun/09 Jul/09 Aug/09
S&P 500 Index Europe Game Index North America Game Index Asia Game Index
Note: the companies making up each index are those listed in the corresponding comps in the following pages. The indexes are based on a weighted market cap and are rebased to 100 at the start.
August 2009 Source: Capital IQ, Company Filings, Brokers & Press 4
Avista
Video Game Briefing Partners
Online Game/ Virtual NHN Games
World Universe has Realnetworks Games
230+ plus companies Viacom Online
Wild Tangent Tencent Games Duniu
AOL Games
with $10 .3 billion+ in Kongregate Spil Games
Yoyogames Miniclip Yahoo Games Gungho
annual revenue Zapak
iwin
Playfirst Ourgame Duowan EA Online
6 waves Roblox
Cafe.com Ganymede
Games2win Big Fish Oberon Astrum
Most Diverse Alawar Fettspielen 51wan Shanda
Microsoft Online
Gala-net MLG Gamania
Geewa Popcap 9you Aeria Run Up Mgame
Zynga
Netease Games
Jagex
Moli Group
Bigpoint Sony Online (SOE) NcSoft
Acclaim
Level Up Games
Gameforge CJ Internet