PopReach to publish the mobile version of
PAYDAY 2, a highly successful co-op first person shooter franchise,
which has an installed base of over 28 million
TORONTO, April 14, 2021 /CNW/ - PopReach Corporation
("PopReach" or the "Company") (TSXV: POPR) (OTCQX:
POPRF), a free-to-play game publisher focused on acquiring and
optimizing proven game franchises, today announced that it has
signed an asset purchase agreement and licensing agreement with
Starbreeze Studios AB ("Starbreeze") for the re-launch of
mobile title PAYDAY Crime War. Under the terms of the asset
purchase agreement, Starbreeze will receive a payment of
US$250K in exchange for all rights
and title to the existing PAYDAY Crime War source code and game
assets. Concurrently, the parties have entered into a five year
licensing agreement granting PopReach the right to publish PAYDAY
Crime War worldwide, and access to assets from the PAYDAY 2 PC game
for use in PAYDAY Crime War. PopReach will be responsible for
completing development, marketing, live operations and user
acquisition for PAYDAY Crime War, which it expects to soft launch
in Q4 2021. Starbreeze will receive tiered royalties on net sales
equivalent to its PC and console licensing deals, and retains all
IP rights to the PAYDAY franchise.
PAYDAY Crime War is a standalone first person shooter game that
takes place in the PAYDAY universe. PAYDAY is one of the most
successful game franchises in the world with an installed base of
over 28 million games. PAYDAY 2, launched in 2013, has become the
largest game community on Steam, the top digital distribution
platform for PC gaming, and has over 7.1 million members as of
March 2021. PAYDAY Crime War is based
on a free-to-play business model and will have access to the PAYDAY
2 PC game and game assets that have sold over 105 million
additional downloadable content (DLC's).
"PAYDAY is an incredibly popular co-op first person shooter
franchise that has showed tremendous staying power and enduring
appeal. PAYDAY 2 still consistently ranks among the top played PC
games on Steam with over 130,000 daily active users. Obtaining the
license rights and source code to PAYDAY Crime War is a massive
opportunity that fits well within our strategy of acquiring proven
game franchises with established product market fit, with a large
built-in audience and deep universe to draw from, including an
extensive pipeline of more than 70 PAYDAY 2 content updates years
in the making. We believe that PAYDAY Crime War has the potential
to generate substantial revenue for PopReach, given the
longstanding success of the franchise, and the fact that it will be
the first mobile free-to-play PAYDAY game", said Jon Walsh, CEO of PopReach.
PAYDAY Crime War has been in development since 2017, and was
soft launched as a closed beta in 2019; however, the shutdown of
the mobile gaming division at NBCUniversal left it without a
publisher and the launch was postponed. Completion and worldwide
launch of PAYDAY Crime War will be led by Vlad Ceraldi, PopReach's SVP of Worldwide
Studios. Mr. Ceraldi was previously responsible for the
creation and commercialization of highly successful free-to-play
action game franchises, including KillShot and Hero Hunters, which
have collectively grossed over $150
million in revenue.
"It's an exciting time for all of us at Starbreeze, during the
last month we've changed the trajectory for the company by securing
deals around the PAYDAY IP. We look forward to working with
PopReach to ensure that PAYDAY Crime War brings the same
action-packed gameplay our players and community already know and
love to mobile devices. PopReach has a proven track record and has
successfully developed and launched free-to-play mobile titles
based on well-known IPs, and our collaboration will be an important
component of our strategy to further expand the PAYDAY franchise",
said Tobias Sjögren, CEO of Starbreeze.
About PopReach Corporation
PopReach, a Tier 1 Issuer on the TSX Venture Exchange, with
shares also trading on OTCQX® Best Market, is a free-to-play game
publisher focused on acquiring and optimizing proven franchises.
The Company has to date acquired 13 successful franchises enjoyed
by over 1.9 million unique players a month, including Smurfs'
Village (IP under license), Peak - Brain Training, Kitchen
Scramble, Gardens of Time, City Girl Life, War of Nations and
Kingdoms of Camelot. PopReach, headquartered in Toronto, employs a team of over 125 experts in
Toronto, Vancouver, London,
UK, and Bangalore,
India.
About Starbreeze
Starbreeze is an independent developer & creator of PC and
console targeting the global market, with studios in Stockholm, Barcelona and Paris. Housing the smash hit IP PAYDAY,
Starbreeze develops games based on proprietary and third-party
rights, both in-house and in partnership with external game
developers. Starbreeze shares are listed on Nasdaq Stockholm under
the tickers STAR A and STAR B with the ISIN-codes SE0007158928 (A
share) and SE0005992831 (B share). For more information, please
visit starbreeze.com
FORWARD-LOOKING INFORMATION
Certain information in this news release constitutes
forward-looking statements and forward-looking information under
applicable Canadian securities legislation (collectively,
"forward-looking information"). Forward-looking information
include, but are not limited to, statements with respect to and the
business, financials and operations of the Company. Statements
containing forward-looking information are not historical facts but
instead represent management's expectations, estimates and
projections regarding future events. Forward looking information is
necessarily based on a number of opinions, assumptions and
estimates that, while considered reasonable by the Company as of
the date of this news release, are subject to known and unknown
risks, uncertainties, assumptions and other factors that may cause
the actual results, level of activity, performance or achievements
and future events to be materially different from those expressed
or implied by such forward-looking information, including but not
limited to the factors described in greater detail in the public
documents of the Company available at www.sedar.com. Although the
Company has attempted to identify important risks, uncertainties
and factors which could cause actual results to differ materially,
there may be others that cause results not to be as anticipated,
estimated or intended. Investors are cautioned undue reliance
should not be placed on any such information, as unknown or
unpredictable factors could have material adverse effects on future
results, performance or achievements of the Company. The Company
does not intend, and does not assume any obligation, to update this
forward-looking information except as otherwise required by
applicable law.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE PopReach Corporation