Investors Acquire $350 Million Bigpoint Stake
Two investment firms have acquired a controlling stake in browser game publisher Bigpoint for $350 million, the firm has announced.
Summit Partners and TA Associates have purchased their stakes from Comcast’s investment arm Peacock Equity, GE and GMT Communications Partners, who acquired a combined 70 per cent of the company in 2008 for some $80 million.
Peacock is to sell its entire share, Comcast’s Megumi Ikeda said, but remains “very optimistic about Bigpoint’s future and are continuing our operational relationship with them at NBC Universal.”
GMT and GE are retaining a small stake in Bigpoint, with founder and CEO Heiko Hubertz holding onto his 30 per cent share of the firm. “The investment by TA Associates and Summit Partners is a validation of Bigpoint’s leadership position within the gaming industry,” he said, ”and will give us a huge boost toward becoming one of the most successful gaming companies worldwide.
“Summit Partners and TA Associates are supporting Bigpoint's international expansion – a course we set out upon in recent months with the opening of new offices in the United States and Brazil. I'm looking forward to a future partnership of mutual trust and cooperation.”
While none of the $350 million is to be invested directly into the company – instead it has been used to buy out existing shareholders – the news is a boost for Bigpoint as it effectively values the firm at around $600 million, according to the Financial Times. Comcast and GMT’s purchase in 2008 valued the firm at of $110 million, meaning Bigpoint has more than quadrupled in value in three years.