Gamigo Raises EUR 32 Million For Acquisitions

Gamigo, the German company that owns Aeria Games as well as the European portal Gamigo, raised 32 million Euros in funding through a bond issue this week. It's interesting because the intended goal of the fundraising was to pursue mergers and acquisitions, which means they're looking to buy another company/game to continue their growth.

“We are very pleased with the interest and support that we have received from investors primarily in Sweden and Continental Europe. This bond issue enables us to continue pursuing our growth ambitions including further M&A”, says Remco Westermann, CEO of the gamigo group.

Interestingly, the terms of the bond weren't particularly favorable towards Gamigo. They're paying an interest rate of 3 month Euribor + 7.75%, which comes out to ~7.5% today, which is fairly high.