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2015-05-28

Starbreeze AB: Starbreeze announces intent to acquire game engine Valhalla for approx. 3.3 million shares

Starbreeze AB, a Swedish independent creator, publisher and distributor of
high quality entertainment products, has agreed to acquire Valhalla, a next
generation game engine under development with its related technology and
tools. The acquisition is to be paid for with approx. 3.3 million shares
(before the suggested A/B split and 1:2 issue of new A-shares) equivalent to
approx. 73 MSEK at current share price and corresponding to approx. 2,25% of
the share capital post acquisition. The acquisition is subject to approval by
an EGM on June 12, 2015.

Valhalla represents the next generation with a true browser based AAA game
engine. Valhalla's graphic cloud engine will revolutionize the art pipeline
by providing an integrated development environment for rapid and creative
game development across multiple studios and teams. Valhalla supports not
only 3D but is fully virtual reality (VR) ready, and proofed on several
headsets currently on the market. Starbreeze intends to use the Valhalla
engine in OVERKILL's The Walking Dead and Storm, as well as in other future
games and applications.

"By acquiring Valhalla we gain access to a powerful future proofed engine and
production pipeline. This will gear us up to take on the challenges and
opportunities in future game development. In essence, we leapfrog the build
out of a new first class development environment several years and increase
our commitment as a technology company," says Starbreeze CEO Bo Andersson
Klint.

Valhalla has been developed independently for four years by highly experienced
and accomplished game and visualization technology experts. The leading
Valhalla architects have joined Starbreeze to secure the transfer of
technology and the continued development of the engine.

In PAYDAY 2, Starbreeze uses the game engine Diesel 2.0. The engine was
originally developed by GRIN and first used in the 2001 premiered game
Ballistics. Diesel 2.0 will be maintained for the continued development of
PAYDAY 2, RAID: World War II and other products, whereas Valhalla will
continue to enable sustained independence for next generation products, and
take Starbreeze to a new level of high quality graphics and productivity.

Since one of the owners has been employed by Starbreeze since November 2014,
the acquisition requires approval by 90 per cent of a general meeting,
according to the Swedish Leo rules. Therefore, the Board calls an extra
shareholder's meeting on June 12, 2015. A notice will be published
separately.

"Investing in a major technology leap like this is of outmost importance for
our aggressive taking of market share. Acquiring technology, know-how and
brands is in our expansion strategy and after a long collaboration we are
convinced this will be a massive value add to the company long term." said
Michael Hjorth, Starbreeze Chairman.

###

For more information please contact:

Starbreeze Investor Relations Contact:
Maeva Sponbergs, Investor Relations, Starbreeze AB.
Tel: +46(0)8-209 208, email:ir@starbreeze.com

Brief information about Starbreeze:

Starbreeze is an independent creator, publisher and distributor of high
quality entertainment products, headquartered in Stockholm, Sweden. At
Starbreeze we create games by our own design and through licensed content,
establishing franchises that can live and prosper outside the game itself. We
live and die by gameplay.

Starbreeze is pioneering digital self-publishing, currently hosting one of the
largest community groups on the digital distribution platform Steam.
Starbreeze's most recent products include PAYDAY 2, our adrenaline fuelled
bank robbing co-op game and the critically acclaimed Brothers - A Tale of Two
Sons.

Starbreeze AB is publicly traded on Nasdaq Stockholm First North Premier under
the ticker STAR and the ISIN code: SE0005992831. Remium Nordic is the company
Certified Adviser. Starbreeze brands include OVERKILL Software and the PAYDAY
series.

For more information, please visit
http://www.starbreeze.com.

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Starbreeze AB via Globenewswire

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