Ambitious online publisher admits to missing out on Kongregate, casts net with wider plan for $100m fund
UK online-only games publisher Zattika has set out its plan to buy up rivals and raise more money.
In an exclusive and candid interview set to appear in MCV later this month, CEO Tim Chaney also admits that Kongregate had been a target ahead of its purchase by GameStop, whilst revealing that he thinks retailers must start buying online games businesses themselves or face extinction.
Zattikka secured $5.5m last month, but is already looking at a far greater pace of growth.
“The next phase for us is to post revenue and profit, and to look for a further $50-$100m as an acquisition roll-up fund,” Chaney told MCV.
“That $5.5m which we had to work hard for is chump-change. Bobby Kotick would spend it on a holiday home.”
Chaney admits that Zattikka had targeted both Mindjolt and Kongregate before both were acquired last month.
“The prices paid for Mindjolt and Kongregate were about right, although as roll-up buyers we would have paid a premium,” added Chaney.
“We currently have a list of 14 A targets and 20 B targets. These will all be approached to see if they are up for taking a smaller role in a bigger play.”