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Gameforge Ups Takeover Bid For Frogster Shareholders

Looking to further establish itself as Frogster's majority stakeholder, online company Gameforge increased its offer price to the Runes of Magic publisher's remaining shareholders.
Looking to further establish itself as Frogster's majority stakeholder, online company Gameforge increased its offer price to the Runes of Magic publisher's remaining shareholders. Gameforge acquired a 60 percent majority stake in Frogster Interactive Pictures last month at €25 ($32) a share, but now it's boosted that bid to €27.50 ($37) -- Frogster's management says it appreciates the increase and believes it to be "fair considering the unstable capital market environment." Similar to assurances expressed during the share purchase in August, Gameforge says it will allow Frogster to operate as an independent company with its existing management and teams at current locations, and that the publisher will retain its own culture and brands. Frogster's management, which notes that the takeover is friendly, says that both companies have "agreed on intensive cooperation in various fields which will be negotiated at arm’s length". It adds that this cooperation will be "value adding" to both companies. Headquartered in Berlin, Frogster publishes a number of online free-to-play titles in Europe, including Runes of Magic (published by its Frogster America subsidiary in the U.S.), Bounty Bay Online, and upcoming MMORPGs Mythos and TERA. Gameforge, also based in Germany and specializing in free-to-play games, has released browser-based titles like Ikariam, Gladiatus, and Katsuro. It also has a licensing agreement with CBS Consumer Products to create and release free-to-play games based on classic sci-fi franchise Star Trek. Frogster's shareholders have until October 22nd to accept Gameforge's offer. The company's management says that it doesn't expect Gameforge to further increase its bid.

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