Gaming
Azerion successfully completes its business combination with EFIC1
Azerion Holding B.V., a high-growth, profitable, digital entertainment and media company, and European FinTech IPO Company 1 B.V. (“EFIC1”), a special purpose acquisition company (SPAC) listed on Euronext Amsterdam, have successfully completed their business combination on 1 February 2022.
As part of the completion of the business combination, the legal form of the combined company has been converted into a limited company (naamloze vennootschap) and it has been renamed Azerion Group N.V. (“Azerion Group”). The first day of trading on Euronext Amsterdam under the new name of Azerion Group’s shares and warrants will be on 2 February 2022 (today) under the new ticker symbols AZRN and AZRNW, respectively.
The business combination received the support of EFIC1’s shareholders, with more than 95% of the votes cast at EFIC1’s extraordinary general meeting held on 31 January 2022 (the “EGM”) approving the business combination.
The completion of the business combination supports Azerion Group in its ambitions to become a global digital entertainment and media powerhouse. The business combination furthermore provides for a strong complementary partnership accelerating future value creation for all stakeholders through continued investments in Azerion Group’s growth, both organically and through M&A. Azerion Group expects this listing to create a new long-term supportive shareholder base, permit Azerion Group to incentivise the existing and future management team and senior staff and continue to attract high calibre individuals.
The business combination resulted in approximately €93 million of gross total primary cash proceeds, including approximately €70 million of funds from the EFIC1 escrow account (net of negative interest and after effectuation of the share repurchase arrangement) complemented by a sponsor and co investor commitment of €23.15 million. With the completion of the business combination, Azerion Group received approximately €56 million of net primary cash proceeds (net of transaction costs and expenses), which will be used to continue to pursue value-accretive acquisitions (with Azerion having a strong acquisition track record and a broad pipeline of potential targets), and to further invest in organic growth initiatives (such as new games and features, platform investments, etc.) as well as general corporate purposes.
Immediately after completion of the business combination and the related restructuring steps (including the cancellation of 31,228,299 ordinary shares that were repurchased by EFIC1 from its shareholders), the issued share capital of Azerion Group is as follows:
1
Public
Type of security #¹
Ordinary Shares (excl. treasury) 111,483,296
Ordinary Shares in treasury² 70,078,452
Total Ordinary Shares 181,561,748
Capital Shares 22
Conditional Special Shares 1,152,886
Warrants³ 12,736,605
Please see section 6.4. “Description of Securities” in the EFIC1 Shareholders Circular dated 13 December 2021 for a description of the classes of securities of Azerion Group.
1. Excluding any conditional and unconditional option rights and Founder Warrants existing at the date of this press release, which in aggregate entitle the holders to receive up to a maximum of 24,160,245 Ordinary Shares. 2. The Ordinary Shares in treasury can be used for acquisitions, exercise of warrants and option rights and other general funding purposes.
3. The outstanding Warrants listed on Euronext Amsterdam at the date of this press release entitle the holders to receive up to 12,736,605 Ordinary Shares.
Immediately after completion of the business combination, the ownership percentages of Ordinary Shares are as follows:
Shareholder % Ordinary Shares⁴
Principion Holding B.V.⁵ 74.3%⁶
Azerion former depositary receipt holders 7.5%
Azerion former stock appreciation rights holders 4.0%⁷
Former EFIC1 converted special shares holders 5.9%
Other Shareholders 8.3%
Total 100.0%
Based on Azerion Group’s information. Actual share ownership percentages and regulatory filings and notifications of ownership percentages may differ.
4. Excluding treasury shares as well as any conditional and unconditional option rights and Founder Warrants existing at the date of this press release, which in aggregate entitle the holders to receive up to a maximum of 24,160,245 Ordinary Shares.
5. An entity controlled by Azerion’s co-founders and co-CEOs.
6. Including shares held for settlement of future acquisition-related earn out and other obligations. 7. Excluding shares held for settlement of future acquisition-related earn out and other obligations.
Atilla Aytekin, co-founder and co-CEO of Azerion says: “Today marks an important step for Azerion, and we are excited to finally enter the public markets and continue to grow and advance our platform whilst raising our profile amongst our customer and partner groups and talented workforce globally. We are proud to achieve this important milestone, and we look forward to our next growth phase and future
2
Public
as a public company. I am grateful to the entire Azerion team for all their hard work, which has brought us to this pivotal moment, and for the dedicated support of our partner EFIC1.”
Martin Blessing, former Chief Executive Officer of EFIC1, adds: “The journey of our SPAC EFIC1 comes to a successful end while the exciting journey of Azerion as a listed company starts now. The whole EFIC1 team thanks its shareholders for their support. We look forward to continuing our partnership with Azerion over the long term and wish the company, its founders, employees and shareholders success as they continue their impressive growth story.”
To celebrate the completion of the business combination, the management team of Azerion Group will ring the opening bell at Euronext Amsterdam at 09.00 CET on 2 February 2022. A live stream of the event and replay can be accessed via this link.
Advisers
Credit Suisse Bank (Europe), S.A. acted as capital markets adviser, Hogan Lovells International LLP acted as legal adviser and ABN AMRO Bank N.V acted as financial adviser to EFIC1.
N.M. Rothschild & Sons Limited acted as financial adviser, Stibbe N.V. acted as legal adviser, and Citigroup Global Markets Europe AG and Jefferies GmbH as capital markets advisers to Azerion.
ABN AMRO (acting in cooperation with ODDO BHF SCA), ING Bank N.V. and Pareto Securities AB acted as co-capital markets advisers to EFIC1, and Clifford Chance LLP acted as legal adviser to the capital markets advisers.
Liquidity Provider
As from 2 February 2022, Azerion Group will enter into a liquidity provider agreement pursuant to which ABN AMRO Bank N.V. will act as liquidity provider for the trade in listed shares of Azerion Group.
GGL set to systemize and monetize the world’s largest untapped entertainment audience – the over 3 billion people who play video games worldwide
Las Vegas, NV, April 08, 2025 (GLOBE NEWSWIRE) — The Global Gaming League (GGL), a global gaming entertainment and media company, announced today the raise of $10 million for its SAFE round led by Solyco Capital. GGL was founded by Grammy-nominated, multi-platinum music producer and entrepreneur Clinton Sparks, in partnership with music icon T-Pain and tech visionary Jeff Hoffman (Priceline, UBid, Booking.com).
The Global Gaming League is a first of its kind multi-title gaming league with celebrity owned teams made up of four players each – high profile influencers, actors, athletes, artists, casual and professional gamers – who compete in live events playing everything from first person shooter, sports titles and fighting games to the latest releases and retro favorites. The GGL is not an esports league – it’s a gaming entertainment league that brings together every style of play and every kind of player. It’s multigenerational, multicultural, and converges gaming, music, sports, fashion, celebrity, competition and culture.
“There are over 3 billion gamers around the world,” said Clinton Sparks, Founder and CEO of GGL. “But there’s still no centralized platform that gives everyday players the spotlight—while authentically connecting brands, celebrities, and competition in a way that’s truly entertaining. That’s where GGL comes in. Imagine the energy of the Super Bowl, the fandom of Comic-Con, and the culture of ComplexCon and Coachella. There is currently no place for investors to have any meaningful return on a gaming investment, brands to consistently get an ROI with gaming, publishers to expand their IP to new audiences, celebrities to have an authentic footprint in gaming and nothing set up for all gamers to build a career as a gamer, and have a chance to be recognized globally as true athletes. Until now.”
The GGL’s matches will take place at their state-of-the-art campus and arena in Las Vegas, the entertainment capital of the world and the home of the Global Gaming League. GGL’s studio facility The Campus powered by Vū, is set to elevate the city’s connection with the video gaming community forever. It is the most technologically advanced studio in the area, boasting the largest wrap-around digital screen in the Western U.S. (second only to Sphere) and 43,000 square feet of space with everything for Hollywood-level film and television production and VIP events of all kinds. GGL delivers unforgettable experiences, high-impact sponsorship moments, and a new entertainment format where the audience is just as important as the action.
“Everybody games,” said T-Pain, GGL Director of Strategy and team owner. “67% of people between the ages of 5 and 90 game in some form—in fact, more people watch video gaming than any sport (short of the NFL). 46% of gamers are female, colleges give scholarships for gaming now. and the average gamer is 36 years old, despite most thinking it’s only for kids. Gaming is a faster, cheaper and safer path to success than traditional sports.”
The Global Gaming League is providing real opportunity for gamers around the world to be drafted and earn a salary as a player on a celebrity owned team through the global nomination submission process where gamers can log on to globalgamingleague.com and sign up. Since announcing this, the league has over a quarter of a million entries to play for one of the celebrity-owned teams.
The first team owners to be revealed include:
- T-Pain – Grammy-winning artist and beloved voice in gaming culture
- Bryce Hall – TikTok star, Bare Knuckle brawler and digital entrepreneur
- Flavor Flav – Hip hop legend, reality show icon, and official host of the Olympics
- Ric Flair – 16-time world champion legendary professional wrestler known for his flamboyant personality and signature catchphrase, “Wooooo!”
GGL will be announcing more team owners in the coming weeks pulling from music, film, sports, fashion, social media and gaming.
Game time is the new prime time.
Gaming is projected to surpass $300 billion by 2026—outpacing TV, film, and music combined. But it’s not just the revenue—it’s the attention. Unlike traditional media, where viewers are distracted, multitasking, or skipping ads, gaming commands full focus. There’s no second screen. No passive scrolling. Just millions of fully immersed fans, locked in and actively engaged.
For brands, this isn’t just a new channel—it’s a new kind of consumer. One who’s not just watching, but participating. One who’s emotionally invested in the moment and wide open to authentic brand experiences that enhance gameplay rather than interrupt it. This is where advertising stops feeling like an ad—and starts becoming part of the story.
“Gaming is a blue ocean opportunity for brands, investors, and new business. Gamers spend 30% more on retail than non-gamers and that number goes up in key categories like automobiles, travel and technology,” said John Garcia, Founder and Managing Partner of Solyco Capital. “Gamers don’t just play—they influence. Today’s gamer spans generations and lifestyles. They watch, buy, and move culture. When I met Clinton Sparks and listened to his vision, I knew this wasn’t just another business idea—it’s a key future in media.”
More Than a League — A Launchpad for Talent, Education, and Opportunity
The launch also includes the GGL Academy—a first-of-its-kind initiative focused on empowering advancement through gaming education, career pathways, and scholarship opportunities. The Academy is built to train, mentor, and connect aspiring gamers, creators, and professionals to real-world roles across the gaming, entertainment, and tech industries.
Strategic partnerships with NYU, UNLV, and Syracuse are already underway, building a direct pipeline from the classroom to the arena. With 74% of Gen Z expressing interest in careers in gaming or digital media, GGL is creating the infrastructure to meet that demand—especially in underserved communities where access to opportunity has been historically limited.
“I came out of retirement for this,” said Jeff Hoffman, GGL Chairman of the Board. “Because this isn’t just about gaming—it’s about access. GGL has the power to connect cultures, build international bridges, uplift underserved communities and close age gaps. And it’s not just meaningful—it’s good business. We’re building a platform that can monetize at scale while making a positive impact. That’s rare, and that’s why I’m all in.”
Sparks adds, “The Global Gaming League is positioned to make gaming a household name in the same manner that the WWE did with wrestling and the UFC did with mixed martial arts, by systemizing and democratizing an industry that already exists with billions of users and hundreds of billions already being generated. Get familiar with the Global Gaming League.”
About Global Gaming League:
GGL is a new kind of league—where gaming, culture, music, sports, fashion, and reality TV collide. With celebrity-led teams, live competitions, global fan engagement, and next-gen media experiences, GGL is building the first entertainment system for the world’s largest and most engaged audience. More info at globalgamingleague.com.
About Solyco Capital:
Solyco Capital is a unique private equity group that delivers capital solutions for late-stage startup and growth companies. Headquartered in Detroit, with offices in Orange County, Dallas, and Miami, Solyco supports high-growth companies with operational guidance through Solyco Advisors. Learn more at solycocapital.com.
Visit: GlobalGamingLeague.com
Press Contact: [email protected]
Business Inquiries: [email protected]
Attachment
CONTACT: Press Contact: [email protected] Business Inquiries: [email protected]
FRVR, a global web-based game distribution company providing instant access to thousands of games, has today announced a collaboration with k-ID, a company committed to protecting and empowering kids and teens through age-appropriate online experiences. The partnership will see k-ID’s first-of-its-kind global compliance engine integrated into one of FRVR’s most popular online games, Krunker.
Acquired by FRVR in 2022, Krunker is a free-to-play first person shooter with a large, engaged community of 3 million monthly active players. The integration of k-ID’s safety and privacy compliance technology ensures rigorous online protection for Krunker’s younger players, creating a blueprint for other web-based games and platforms to follow.
k-ID utilizes an age gate as the first line of defense in age verification, providing a simple and intuitive way for users to declare their age. It also offers an optimized, low-friction Verifiable Parental Consent (VPC) flow, which obtains and manages parental consent in a way that meets global regulatory requirements and adapts based on the user’s location. Together, these solutions ensure that every player on Krunker receives an age-appropriate experience while gaming.
Web-based gaming experienced an initial peak in the mid-2000s with games made in Flash. Driven by technological and legislative advances, web games made primarily with HTML5 are projected to become an $8 billion market in 2025. At the same time, laws such as the UK’s Online Safety Act and the EU’s Digital Services Act aim to create safer digital spaces for children. With its collaboration with k-ID, FRVR doubles down on its commitment to foster a better environment for kids and teens online — both on their platform and the wider web.
Quentin Staes-Polet, CEO of FRVR, said:
“As the web gaming sector continues to grow, FRVR is dedicated to ensuring young players have secure spaces to have fun and express themselves online. We’re thrilled to collaborate with k-ID, who bring the best in class tools we need to provide a safer and more responsible experience in Krunker.”
Kieran Donovan, Co-founder & CEO of k-ID, said:
“We are thrilled to help empower and protect the large, engaged community in Krunker. At our core, we’re driven by a mission to deliver empowering, safe experiences that resonate deeply with kids, teens, and everyone. What I love most about Krunker is its accessibility—it’s easy to pick up and naturally creates entertainment and connection between players.”
This fresh collaboration follows recent successes for both companies, with FRVR securing $13.2 million towards its AI engine, Upit, and k-ID being named one of the 2025 AI Gamechangers.
The post FRVR Integrates k-ID into Krunker, Setting a New Standard for Child Safety in Web Gaming appeared first on European Gaming Industry News.
UMX Studios, backed by Jetapult, has officially released DriftX, a mobile car simulation racing game that combines fast-paced competitive action with immersive gameplay. The game has surpassed many global titles, crossing 1.8 million downloads with its beta, and is aiming for 15 million downloads by year’s end. Furthermore, the game hit #1 in the Middle East and smashed through top charts across regions such as the US on both the App Store and Google Play.
The studio’s game title redefines the mobile racing genre by combining competitive modes such as ranked multiplayer and time trials with open-world exploration, a rare feature in drift games. Its physics-driven mechanics strike a perfect balance between arcade accessibility and technical depth, catering to both casual players and racing enthusiasts. The game also offers seamless social integration with features like Voice Chat, Play Together, and Hang Out, making it a dynamic, community-driven experience with an unmatched realistic experience.
UMX Studios recently secured a $4.5 million investment from Jetapult to accelerate its growth. Through its strategic Invest & Operate model, Jetapult provides more than just financial support; it also equips gaming studios with access to top-tier game design expertise, publishing guidance, and cutting-edge AI tools, all aimed at fostering long-term success. UMX Studios worked closely with Jetapult’s experts, including Creative Director Angelo Lobo (renowned for his contributions to CSR2 and Farmville 2) and witnessed a 35%+ increase in user revenue (ARPDAU). The collaboration helped enhance the user’s multiplayer gameplay experience, balancing the game’s economy and social dynamics.
Ali Alharbi, CEO of UMX Studios, commented, “Our collaboration with Jetapult has helped us refine the game and accelerate its growth. The response to DriftX has been amazing and we continue to focus on innovation and community-driven gameplay. We are confident that we will play a key role in redefining the mobile racing genre globally.”
Sharan Tulsiani, CEO & Co-Founder of Jetapult, added, “DriftX’s rapid success is a perfect example of what happens when talented studios like UMX are empowered with the right resources and expertise. It stands out not just for its strong early numbers, but for how thoughtfully it’s been built—from gameplay mechanics to overall design, the team has delivered a racing experience that’s both accessible and deep. We’re proud to support them as they bring this quality of innovation to players across global markets and continue to reshape the mobile racing genre.”
DriftX game is available on iOS and Google Play
The post Jetapult-backed UMX Studios launches DriftX, a mobile car racing game appeared first on European Gaming Industry News.
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