Case Studies - Boombang

Situation

• Boombang Games SL was introduced to agnitio through common industry contacts. Towards the end of 2009, Boombang began experiencing increased growth rates and having attempted to raise funds for expansion in the past that was not successful, the Company engaged agnitio to target European venture capital firms and leading online games companies worldwide to invest in the business..
  
  
• agnitio identified, structured, and negotiated the investment made by Nexon, one of the largest online games companies worldwide, into Boombang.
  
  

Approach

• agnitio identified the leading European venture capital technology investors and global online games firms that would be the most appropriate investors to assist Boombang in expanding its global footprint and scaling the business for rapid growth.
  
  
• Nexon was chosen amongst a number of candidates to be the sole investor given the strategic benefit and value add it can provide to Boombang currently and in the future.
  
  

The Transaction

• Terms were not publicly disclosed of the transaction.
• agnitio is continuing to provide strategic advisory and corporate finance services to Boombang (managing reporting requirementws with Nexon) and is a Board Observer.