The parties have agreed on a project scope increase with an amendment to the agreement signed in May 2017, resulting in approximately 0.4 MEUR increased revenue for Nitro Games.
Nitro Games has signed an amendment to the game development agreement with Wargaming. The parties originally signed a mobile game production agreement in May and with this amendment the parties are amending the terms of this original agreement.
Wargaming requested additional features to be introduced into the product, so the parties have agreed to increase the development budget and change the schedule and payment terms accordingly.
The whole project schedule remains the same; the project is expected to last roughly one year from May 2017. With the budget increase the expected value of the project increases with approximately 0.4 million euros to approximately 1.5 million euros.
For more information:
CEO Jussi Tähtinen
Phone: +358 44 388 1071
This company announcement contains information that Nitro Games Oyj is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication by aforementioned contact person on 23 October 2017 at 09:00 (EEST).
Nitro Games in brief:
Nitro Games is a free-to-play mobile game developer and publisher with a decade of experience in developing games for the mid-core user segment, mostly focusing on the genre of strategy games. The Company focuses on producing games with high production value and high revenue potential for smartphones and tablets. With Nitro Games’ powerful NG Platform and NG MVP-process, the Company is able to do market validation with new game prototypes after only a week of development. Historically, Nitro Games has developed games such as East India Company, Commander: Conquest of the Americas, Pirates of Black Cove and Raids of Glory. Nitro Games’ shares are listed on Nasdaq First North Stockholm with the ticker NITRO, and the company’s Certified Adviser is Augment Partners AB, phone: +46 8 505 651 72. www.nitrogames.com
Wargaming in brief:
Wargaming is an award-winning online game developer and publisher and one of the leaders in the free-to-play MMO market. Founded as a privately held company in 1998, Wargaming has shipped over 15 titles. Currently, Wargaming is focused on its team-based MMO war series dedicated to the mid-20th century warfare that includes the armored World of Tanks, the flight combat World of Warplanes, and the naval World of Warships. The three intertwined titles form a common gaming universe integrated within the portal www.wargaming.net.
As part of its multiplatform line-up, the company has introduced World of Tanks on Xbox and World of Tanks Blitz on mobile platforms, Windows 10 PCs and Mac OS X. Launched in 2014 and 2015, World of Tanks on Xbox introduced epic tank-on-tank battles to console gamers and offers the first cross-platform gaming experience between Xbox 360 and Xbox One. In 2016, Wargaming released World of Tanks for PlayStation®4, continuing its console campaign.