Eschborn, January 20, 2012: On December 22, 2011 the Eschborn publisher bitComposer Games GmbH changed its name to bitComposer Entertainment AG, with Wolfgang Duhr, Oliver Neupert and Stefan Weyl forming the board of the new joint stock corporation. We hope the name change will open up the capital market in the medium and long term. The company has not yet been listed on the stock exchange.
“After over two and a half years of sustained development and expansion of our business activities, the time was right to take the logical next step”, says Wolfgang Duhr.
bitComposer is continuing to grow, and its turnover has doubled during the past few years. With the founding of the affiliate company, bitComposer Online in the strategically important online market, its portfolio of video games has increased to 24 titles since the company was formed in March 2009. Meanwhile the certified publisher is also serving all the current platforms.
“Our aim is to make bitComposer a 360° gaming company; the platform convergence will essentially determine our future development, and will guarantee our company’s stability,” is how Oliver Neupert describes the publisher’s future.
The 360° orientation will allow us to carry out a high level of activity, and also means that the company is not dependent on the success of a single project.
bitComposer’s core business is self-financed, and interested investors had already offered the publisher an opportunity to invest in individual projects in the past. The change of name to bitComposer Entertainment AG will now enable bitComposer to offer investors the chance to acquire a stake in the company.
The name change to AG will increase bitComposer’s common stock capital to €1m, and the company is on the way to achieving capital market maturity.
Any contracts that have been signed with bitComposer Games and bitComposer Online will remain unaffected by the name change.
“bitComposer Online is a very young company, and is also developing in an extremely positive way, and has the potential to scale its activities”, says Stefan Weyl.
The affiliate company, founded in 2010, entered the online market when it acquired a majority stake in browser game developers G.Labs.
Two browser games, “Oil Empire” and “Venetians”, are already firmly established in the market and are showing a monthly growth of 50% in terms of both user numbers and turnover. Two more titles, “Jagged Alliance Online” and “Coasterama” will follow shortly. The online division will release seven more games between now and 2013, which will have a significant impact not only on the growth of the new joint stock company, but on the future orientation of the company. The aim is to achieve sales in the free-2-play sector that will at least equal those in the traditional retail business.
bitComposer is not only focusing on traditional distribution channels, but also on digital distribution. It has achieved market coverage of 90% in this sector, and is a STEAM premium partner.
“Schlag den Raab” (Nintendo Wii, PC) was an incredibly successful project for us in 2011; the title skyrocketed to the top of the Wii charts only three weeks after its release. The sequel, “Schlag den Raab: Das 2. Spiel” (Nintendo Wii, Sony PlayStation 3, PC and Nintendo 3DS), promises to exceed the success of the first part!
“S.T.A.L.K.E.R.” in particular stood out in the international scene; more than 4 million units of the series have been sold to date, with “Call of Pripyat” accounting for half a million.