Gameforge acquires 36.8% of Frogster Interactive Pictures

August 2010. Karlsruhe/Berlin, Germany – Frogster Interactive Pictures AG (Frogster), a leading Berlin, Germany-based publisher of Massively Multiplayer Online (MMO) games welcomes a new anchor shareholder. Gameforge AG (Gameforge), a leading Karlsruhe, Germany-based publisher of online games acquired 36.8% of Frogster shares in a deal with a pool of independent shareholders and thus increased its stake to 60%. In this transaction Corporate Finance Partners – now ACXIT Capital Partners – advised the pool of shareholders, led by Günther Paul Löw, the CEO of Impera Total Return AG.

2010_08_frogster_gameforge„By holding a stake in Frogster, we are strengthening our position in this internationally competitive environment,“ says Christoph Jennen, the CFO of Gameforge. „Together with Frogster, we see a good opportunity to expand our presence in the online gaming market even further.“

“With Frogster CFP once again demonstrates its affinity and deep industry expertise in the gaming sector, already proven in the successful transactions with such prominent names as Bigpoint and InnoGames,” says Andreas Noth, former CFP Managing Director, who led the project.

About Frogster Interactive Pictures

Frogster Interactive Pictures AG, based in Berlin, is a leading publisher of online games. The company is focused on the operation and commercialization of so-called MMO games, including the successful title „Runes of Magic“. The company currently has more than 200 employees and generated revenues of EUR 14 million in 2009. Frogster operates in the USA, Europe and Korea. The company is listed in the Entry Standard of the Frankfurt Stock Exchange since February 2006.

About Gameforge

Gameforge is the largest independent global provider of online games. Located in Karlsruhe, Germany, the company specializes in developing and publishing client- and browser-based online games as well as games for social media networks and boasts more than 100 million registered users worldwide. Its portfolio of 20 games localized into more than 50 languages includes “Metin2”, with more than 8 million active users Europe’s largest massively multiplayer online game. Starting 2011 Gameforge will publish browser and social media games based on the popular science fiction franchise “Star Trek”™. The company and its products have won numerous awards, including the “German Developer Award”, the “Deloitte Technology Fast Forward 20 Award” for fast-growing technology companies, and it was titled one of Germany’s 100 best employers by the Great Place to Work® Institute Germany. (


ACXIT Capital Partners is a leading independent corporate finance and investment advisory firm for mid-market clients and entrepreneurs in Europe and beyond. Since 1998, ACXIT offers its clients comprehensive corporate finance advisory services including M&A and capital markets advisory as well as restructuring, equity/debt and strategic advisory. As an independent, privately owned firm we maintain offices and representations in Frankfurt, Berlin, Munich, Leipzig, Zurich, Hong Kong and New York, as well as strong alliances in France, China and India. (



ACXIT Capital Holding GmbH
Bockenheimer Landstraße 24
60323 Frankfurt am Main

Dr. Hartmut Vennen
Senior Managing Director, Strategic Communications

FTI Consulting
Park Tower | Bockenheimer Anlage 44
60322 Frankfurt am Main
Phone: +49 69 92037 137
Mobile: +49 160 895 5858