Games - Friday, July 18, 2008
Prague's IC Gaming Startup Buys Partner BUKA For $80M
The biggest gaming business in Eastern Europe, Prague's 1C Company, is buying its partner BUKA for $80M. BUKA is based in Moscow and is owned by private equity investors Finam and Norum. Prior to acquisition, 1C was a long-term publishing and distribution partner to BUKA.
Together, the two companies will hold more than 40% share of the Russian game market. BUKA has 250 employees and was founded in 1993. It did revenues of $35M and EBITDA of $10M in 2007. Quintura reports that Finam and Norum, acquired a 52.9% majority stake in BUKA in June 2005 for an estimated $6M.
1C Company has seen steady growth in recent years, most recently moving to acquire Russian developer Ino-Co.
IC Publlishes the UFO series while BUKA has licensed wester games like Ware Hammer from THQ, Ubisoft, etc. for the Easter European market.
View - BUKA site
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