Koch Media is acquiring racing specialist studio, Milestone, for €44.9 million in cash. The agreement will see Koch acquire the development studio and all intellectual property rights.
The Milan-based developer, perhaps best known for titles like MotoGP, Supercross, MXGP and RIDE, was founded in 1994 as Graffiti. After rebranding as Milestone in 1996, the “family-owned business” has gone on to employ around 200 staff and worked with partners such as Virgin, Electronic Arts, and Black Bean.
“Becoming a part of the Koch Media Family is an important step for our studio. Being run as a family business, which is built on the enthusiasm of its team members and centered around racing games, we are delighted to bring our expertise and knowledge into the company group and strive from the experience and knowledge outside of our core DNA,” said Luisa Bixio, Milestone VP. “We are sure that the combination of our experiences will strengthen our position in our market segment and help us to bring more exciting games to our fans and extend the frontiers of racing within the gaming industry.”
“We are delighted to welcome the team from Milestone to the family,” added Dr. Klemens Kundratitz, CEO Koch Media. “After a long relationship in distribution across selected Koch territories, I am sure that the combined knowledge of our companies will open amazing new opportunities within a core market of the games industry. I am more than confident that the motivation and passion that drives the team at Milestone and the strong value within the racing segment are a solid foundation for future projects. The knowledge of fully licensed titles such as MotoGP and the experience in self-publishing and developing own IPs such as RIDE, rooting on a core DNA which centers around racing will help us to broaden our group portfolio and strengthen us for the future.”