Responsibility for publishing Backpacker is transferred to WeAreQiiwi Interactive
Stockholm, Sweden -- August 27, 2018 --
From September 1 2018, the responsibility for marketing Backpacker will be transferred to Qiiwi, thus accounting for the costs it entails, and all revenue generated from new players will accrue to Qiiwi from that point forward. The business terms regarding existing players who have downloaded the game up to this date will continue, unchanged, during the 12 months ending August 31 2019.
“The publishing of Backpacker has been a profitable and valuable experience where we successfully launched the game globally and subsequently used our performance marketing engine to bring high performing players into the game and giving it a good start. As the product now enter into a new phase Qiiwi will assume publishing for Backpacker and we increase focus on our recently launched games Word Domination and Paint Hit. Publishing continues to be an integral part of our growth strategy and we regularly evaluate games from external developers for potential publishing opportunities. We wish Qiiwi all the best and thank them for a great collaboration,” said Daniel Hasselberg, CEO of MAG Interactive.
“This decision is in line with our vision of being responsible for developing and publishing our own game titles, which in turn means we control 100% of our business. During our cooperation with MAG we have learned a lot and developed as a company, and together with them we have given Backpacker a great start in the global launch. We are now ready to be responsible for marketing and publishing the title and want to thank MAG for a good and rewarding cooperation and wish them all the luck with future gaming initiatives.” said Erik Dale Rundberg, CEO of Qiiwi Interactive.
This announcement contains inside information pursuant to Article 7 of the EU Market Abuse Regulation relating to MAG Interactive AB (publ). The information was submitted for publication through the agency of the contact persons set out below, on August 27th, 2018 at 08.00 CET. For additional information, please contact: Daniel Hasselberg / VD / +46 (0)8 644 35 40 / daniel@maginteractive.com / Magnus Wiklander / CFO / +46 (0)8 644 35 40 / magnus.wiklander@maginteractive.com
About MAG Interactive
MAG Interactive is a leading developer and publisher of casual mobile games for a global audience. MAG Interactive reaches over 10 million active players every month and the game portfolio consists of ten successful games with over 250 million downloads, including successful titles Ruzzle, Quiz Duel and WordBrain, all of which have reached #1 spots on the App Store and Google Play. With offices located in Stockholm and Brighton, MAG Interactive’s games are distributed through virtual app stores allowing for global reach with minimum effort. MAG Interactive is listed on Nasdaq First North Premier with ticker MAGI. Avanza Bank AB is acting as MAG Interactive's Certified Adviser. For more information visit www.maginteractive.com.