Vivid Games has an agreement to sell the Bidlogic system

Vivid Games has concluded a contract for the sale of Bidlogic technology to Publishers Revenue Optimization from Wrocław, operating under the optAd360 brand, Vivid Games reported. The final total amount of the transaction is PLN 9 million, with PLN 4.55 million remaining in the company after settlements with the originator of Bidlogic.

"In accordance with the above-mentioned Under the agreement, the buyer acquired full rights to the Bidlogic technology with all its elements for a total price of PLN 9 million net, which will be paid in three installments, with the majority, ie PLN 7 million net, being paid on the date of the sale agreement. The second tranche, in the amount of PLN 1.5 million net, will be paid by the buyer by January 31, 2023, and the third tranche, in the amount of PLN 0.5 million net, by January 31, 2024. " - we read in the announcement.

Pursuant to the agreement concluded earlier with the founder of the Bidlogic project, the company is obliged to pay him remuneration in the amount of 49.5% of the selling price, ie in the total amount of PLN 4,455 thousand. PLN net, underlined.

“The transaction will strengthen the company's position and ensure its greater financial stability. After deducting the costs of investments, it will bring the company a net profit of approximately PLN 4.2 million, booked as at the transaction date, which will directly translate into the financial result for this year. From the point of view of cash flow, in September we will receive PLN 3.53 million from the first tranche, the next ones are planned for January 2023 and January 2024. " - said the CEO of Vivid Games, Jarosław Wojczakowski, quoted in the press release.

Vivid Games has been operating on the gaming market since 2006. The company produces games for smartphones and portable consoles. So far, the most important title in the company's achievements is the global hit "Real Boxing". Vivid Games made its debut on the WSE main market in 2016, transferring quotations from NewConnect.

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