Olswang advises GAME Digital PLC on its acquisition of Augmented Reality company Ads Reality Ltd

This article was produced by Olswang LLP, which joined with CMS on 1 May 2017.

International technology, media and telecoms law firm Olswang has advised specialist video game retailer GAME Digital PLC on its strategic acquisition of the trade and assets of Ads Reality Ltd. Ads Reality is an innovative Augmented Reality (AR) company focused on the development of AR applications for a range of sectors, including for retail, gaming and entertainment. Involved in all aspects of the deal from the earliest stages, Olswang advised on the transaction structuring through to completion.

Following the acquisition of a minority stake in the business last year, GAME now owns the company outright. The Olswang team played a pivotal role in advising on the share incentives structure. With an initial payment of £2 million, the deal could be worth up to £20 million subject to certain performance conditions being met. This acquisition will enable GAME to further drive increased engagement with its customers, leading to increased product sales and mobile traffic volumes.

Mark Gifford, Chief Financial Officer at GAME commented: "This acquisition forms a vital part of our multichannel, digital engagement strategy, and we're very much looking forward to leveraging the power of AR to offer our customers new and exciting experiences. Olswang's advice, expertise and comprehensive industry knowledge enabled us to successfully navigate the legal complexities of this deal, and the team proved invaluable to its journey to fruition."

Anthony Waller, Partner and Co- Head of Technology at Olswang, commented: "We're pleased to have advised GAME Digital on an important acquisition that will help shape the group's engagement strategy. AR is a fascinating, burgeoning sector of the gaming industry, and we look forward to seeing how Ads Reality will bolster and diversify GAME's offerings in the coming years."

The Olswang team was led by Anthony Waller, and supported by Share Incentives Partner Andy Quayle, Corporate Associate Sam Pout, Commercial Associate Mike Llewellyn and Corporate Trainee Chris Dixon.

Read more about Olswang’s international legal practice on the firm’s website.