On May 20th, Jam City Inc. and DPCM Capital Inc. announced the two organizations entered into a definitive merger agreement. As a result of this deal, Jam City will become a publicly listed company on the New York Stock Exchange.
The transaction gives the organization a combined enterprise value of $1.2 billion. The combined company expects to generate $868 million in bookings and $112 million in Adjusted EBITDA next year.
“We have built and are scaling one of the world’s leading mobile entertainment platforms by bringing art – including storylines, characters, and game mechanics – together with a powerful technology platform that leverages data to drive user acquisition and live game operations,” said Chris DeWolfe, the Chief Executive Officer of Jam City. “We expect going public will provide us with a source of capital to accelerate our growth and advance our strategic priorities while acquiring and teaming up with Ludia adds compelling new intellectual property and gaming genres to our catalog. Together, we believe these transactions will advance our vision to create premium, social mobile games that are an enduring part of our players’ lives.”
Upon the closing of this deal, the combined company will operate under the name Jam City Holdings Inc. The organization will be listed on the New York Stock Exchange under the ticker symbol “JAM”.
(All information was provided by ICR Inc.)
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