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Daydream Purchases Game Company Twine Media

by Thomas on Dec. 18, 2002 @ 3:57 p.m. PST

Daydream Software AB, listed on Stockholm O-list, has signed a letter of intent to purchase Twine Media AB. The deal is dependent on an extraordinary general meeting of Daydream's shareholders. The proposal is that Daydream purchase 100 % of Twine. The board proposes the payment is made via an issue in kind of circa 6000 000 B-shares in Daydream Software AB at an extraordinary general meeting of shareholders. Daydream, via the purchase, gains access to Twine Medias global clients, new development opportunities and a network of the leading publishers in game and film

Twine Media AB was founded in the fall of 2002 under the guidance of Peter Zetterberg and TA Capital and their management company and has in a short time established itself as one of the leading businesses within the interactive entertainment industry's sector focusing on the creation, management and sale of franchises and IPs. The company and its founders have well established and deep rooted relationships with many of the most important game publishers such as Activision, Codemasters, THQ, Sony Pictures etc.

The acquisition of Twine Media AB puts in place the last piece of the jigsaw for Daydream. Access to the Twine's international sales network and game design expertise will allow us to take the next step up into the realm of established game developers, said Daydreams managing director Leif Danielsson.

Daydream has enormous potential to be a leading player in interactive entertainment. It is streamlined and has very talented team. We bring new business opportunities, sales expertise and an established network among leading publishers, said Peter Zetterberg.

Daydream is a concern that develops interactive entertainment, innovative technologies and services which are experience based, distributable and payable via Internet and other digital media. Daydream Software AB has these subsidiaries Daydream Technology and Daydream Ventures. Daydream Software AB is listed on OM Stockholm's stock market O-list.

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