Commodore establishes new partnership worth €18 million

The Commodore International Corporation has finalised a partnership agreement with The Content Factory in a deal worth an estimated EURO 18 million.

The Commodore Gaming licensing agreement, which was first announced last September, sees CIC holding 49 per cent of shares in the new initiative. A EURO 12 million cash payment will be made over five years, and a further EURO 6 million will be made in shares. CIC's first payment of cash and shares amounts to EURO 7 million.

Commodore Gaming is aiming to become "a major worldwide player" in the mobile games and entertainment market, with plans to "actively identify and pursue" mergers and acquisition targets. CIC forecasts that the new venture will have a "strong impact" on its financial results.

"Gaming is one of Commodore's key historic competences, and the conclusion of this agreement emphasises Commodore's strategy to build on the strengths of the rich Commodore heritage," commented CIC president and CEO Ben van Wijhe.

"Now that the license agreement is concluded, Commodore Gaming will continue to create new types of game experiences and interactions."