Flying Wild Hog (FWH)

Flying Wild Hog - the Polish developer of the games AA + for the PC and consoles.

2020: Acquisition of 100% of stocks by Embracer Group company through Koch Media

On November 18, 2020 the Embracer Group company through the subsidiary company Koch Media purchased 100 percent of shares of the Polish Flying Wild Hog ("FWH") at Supernova Capital LLP. The FWH command on November, 2020 time works on four projects, including Shadow Warrior 3. Embracer receives from the transaction a command from more than 260 specialists in three studios in Poland that will become base for the development center of games gaining strength in Europe.

According to the company, the purchase price in the first day is equivalent 137.2 US dollars, paid to Supernova Capital, private investment company in the game sector. Besides, the program of stimulation of management of the companies was created to align interests in the future. Total amount of the incentive program is 7.1 US dollars in B-stocks of Embracer and depends on accomplishment of the approved stages and obligations for continuation of participation in FWH within the next five years.

We monitored Flying Wild Hog company for many years because of their capability to extend using high-quality work. Flying Wild Hog will still be independently controlled a team of managers of Koch Media, at the same time studying possibilities of cooperation with wider Embracer group. Flying Wild Hog will become the development propulsion unit in Poland. Lars Vingfors, the founder and the CEO of Embracer Group reported

For November, 2020 the command consists from more than 260 people with a various set of skills. In total from the moment of release of the released FWH games more than 9.5 million copies were sold.

Thanks to acquisition Embracer adds one of developers in Europe with opportunities of further growth and also creation and development of own games. Acquisition strengthens presence of Embracer in Eastern Europe and represents the first development team of Embracer in Poland.

The FWH command in Krakow - the developer for consoles / PC which introduce the updated opportunities in the Embracer group, with an opportunity to expand and use in other future projects. For November, 2020 FWH work on the interesting pipeline of projects, including development of four games for such publishers as Jagex, Devolver Digital and Focus Home Interactive. Four names will be issued since 21/22 financial years. The most part of income from 4 games in FWH is generated within current contracts on a work for hire with a potential of receiving the fees if games achieve commercial success.

In future Embracer sees economy of costs for development and runtime royalty fees at the expense of future franchizes and products of own development and also economy on a margin between Koch Media and FWH. Additional communications between the companies of the FWH and Embracer group include, in addition, sharing of technologies, resources for development and business development. Strategy after release of four games developed for November, 2020 will combine the continuing cooperation with the external companies and also development of own games on the basis of franchizes from Embracer portfolio.

Within Embracer Group Flying Wild Hog will work as independent studio as a part of Koch Media Group.

We are glad to see that Flying Wild Hog joined community of developers of the games Embracer Group. Paul Vedzhvud, the founder and the managing partner of Supernova told

We are very glad that Flying Wild Hog will join Koch Media and family of Embracer. Koch Media - the publisher who supported our vision of creation of games. Michal Shustak, the CEO of Flying Wild Hog Studios told.

The purchase price in the first day in the amount of 135.2 US dollars is equivalent 137.2 US dollars on a non-cash basis and without debt and is paid by cash for benefit of Supernova Capital LLP. Besides, the program of stimulation of management was created to align interests in the future. The program of encouragement which in total makes no more than 7.1 million US dollars in B-stocks of Embracer depends on accomplishment of the approved stages and obligations for continuation of cooperation within the next five years.

The actions stimulating the management are issued upon completion of the transaction on the price 174.06 Swedish krona for an action that equals to the 20-day weighted average price on the volume of the stocks Embracer B on Nasdaq First North Growth Market till November 17, 2020 inclusive and also using the currency exchange.

The rate of USD/SEK for November 17, 2020 makes 8.6133. Thus, the number of stocks of Embracer will increase by 352,038 stocks B, from 421,139,665 to 421,491,703 actions separated into 33,399,137 stocks A and 388,092,566 stocks B.

The transaction is finally made without a possibility of review of conditions on November 18, 2020.

Ernst & Ernst & Young of AB provides support of the transaction, and Baker McKenzie acts as the legal adviser of Embracer in the transaction. Aream & Co. acted as the financial advisor of the Seller, and Sheridans - as the legal adviser of the Seller.

2018: Opening of studio in Rzeszow

In 2018 FWH extended, having opened studio in Rzeszow.

2016: Opening of studio in Krakow

In 2016 FWH extended, having opened studio in Krakow which the additional studio followed.

2009: Basis

The Flying Wild Hog company was founded by Michal Shustak, together with CD Projekt Red and People Can Fly developers in Warsaw, Poland, in 2009.