Softclub

History

2023: Transfer of gaming assets from Cyprus to Russia

As it became known on January 17, 2023, 1C transferred its gaming assets from Cyprus to Russia. This step is expected to help 1C more actively engage in the development and distribution of games in the Russian Federation, competing with VK.

As Kommersant writes with reference to SPARK-Interfax data, at the end of November 2022 there was a restructuring, in which 1C acquired from Cyprus DM Investments Multi Ventures Inc. Ltd 100% stake in Soft Club Company LLC and 1C-Softclab LLC (both companies are engaged in distribution and publishing of video games).

1C itself told the publication that restructuring is needed to simplify the management of the group of companies. The main business processes and beneficial ownership of property are preserved.

1C transferred its gaming assets to Russia

The participation of the "layer" in the person of the Cyprus holding created difficulties both in Russia and in Cyprus, the interlocutors of the newspaper noted. According to Stanislav Danilov, partner of the Pen & Paper Bar Association, the sanctions prevented the company from working with banks and auditors, as well as conducting transactions and corporate reshuffles - for example, appointing top managers.

A Kommersant source in the game development market explains that 1C Softclab distributes physical rather than digital copies of games. The interlocutor is sure that the company plans to engage in digital distribution of games in Russia through its own platform, so as not to depend on competitors. However, this 1C requires cooperation with another strong player with a similar audience and strong expertise, for example with Lesta, he added.

An employee of a large Russian-language gaming studio assumes that the transfer of gaming assets to the Russian Federation will allow 1C to receive state support. The founder of the rawg.io portal, Haji Makhtiev, believes that 1C is trying to consolidate gaming assets to realize the possibility of increasing its share in the Russian market.^[1]

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