Kunos Simulazioni Bought Out By Digital Bros

Discussion in 'Assetto Corsa' started by Paul Jeffrey, Jan 20, 2017.

  1. Paul Jeffrey

    Paul Jeffrey
    RaceDepartment Editor-in-Chief Staff Premium

    Assetto Corsa Digital Bros Takeover.jpg
    Early reports suggest Digital Bros Group, an Italian company with offices located around the globe, have purchased Kunos Simulazioni, the development studio responsible for racing simulation Assetto Corsa on both console and PC.

    Very little information is known about what the new takeover by Digital Bros Group means for Assetto Corsa going forward, or even if current founders Marco Massarutto and Stefano Casillio will remain with the group following their financial windfall.

    Digital Bros Group already have ties with the studio via their ownership of 505 Games, distributors of the console version of Assetto Corsa. In a statement released by the Digital Bros Group, it appears that full ownership of Kunos Simulations has been agreed, transferring ownership of Assetto Corsa and Kunos away from the current founder members Stefano Casillo and Marco Massarutto. With the news only just becoming public knowledge, further plans around how the new structure will look, who remains involved in the title and what the future will hold are short on the ground.

    You can read the statement below (apologies for google translate). Stay tuned for more breaking news as it becomes available.

    The statement (using Google Translate):

    "Digital Bros will purchase the100% Kunos Simulations

    The Board of Directors of Digital Bros, listed on the Star segment of the Italian Stock Exchange and active in the field of digital entertainment, which met today, approved the signing of an investment agreement concerning the acquisition of 100% of the share capital of the Kunos Italian developr of Simulations , Assetto Corsa S.r.l..In the same session were also beneficiaries of options discovered "2016-2026" stock option plan (the "plan"), recently approved by the shareholders, the quantities of options granted, and the unit price of subscription.

    Acquisition of 100% KunosSimulationsS.r.l.
    KunosSimulationsS.r.l.is an Italian company based in Formello (RM) who has many years of experience at the forefront of implementation of the main Italian carmakers simulators. Following this experience he developed and launched during the 2014 Assetto Corsa , a video game which was a great success with critics and audiences in versions 4,Sony PlayStation and Microsoft Xbox One, PCSteam,with more than1.4million copies sold worldwide to date. 505Games, the Division o fDigital Bros group that deals with international publishing of video games, has signed an agreement during the 2015 Edition of the console versions .Assetto Corsa offers to players 150 cars, reproducedin every aspect, from the automotive world leading brands such as Alfa Romeo, Audi, BMW, Ferrari, Porsche and many more. Thanks to the use of Laser Scan technology, every single detail of the most famous tracks in the world has been reproduced with the utmost level of accuracy, making the game a real sporty driving simulation. With this acquisition the Digital Bros Group intends to grow more and more as a Publisher and developer of games can be successful in the world and be always ready to meet the needs of an increasingly demanding public. The acquisition allows fullcontrol of intellectual property and the opportunity for the group to invest on future developments of new versions of Assetto Corsa benefiting from a brand extremely well located in the global market for video games. The fact that the group already holds the rights of publication of Assetto Corsa fort he console version also synergiesin terms of brand positioning and optimization of advertising at a time when the rights are to be held entirely by the group. The operation involves the acquisitionof100% of DigitalBrosS.p.A. companyKunosSimulationsS.r.l., held by two founders Stefano Casillo and Marco Magandein viajointfor a nominal pricetotalling Euro 4,341,500 euro that will be paid as follows:

    Euro cash throughout the date of execution1 ,375,000;
    Euro1,375,000 entirely in cashwithin one year from thedate of execution;
    Euro1,591,500 by issuing newordinary shares150,000 Digital Brosat a unit price of 10.61Eurosequal to the arithmetic average ofquotation prices ofDigital Brossharesover the past six months.The issueis subjectto approval by theshareholders ' meetingto be convenedfor nextMarch13.
    In the absence offinancial data of theKunosSimulationsS.r.l.at December 31, 2016, pricing was made assuming net worth at the same date amounted to 10,000Euros ,any variations from this value will increase or decrease of the second instalment of cash payment. KunosSimulationsS.r.l.has accomplished over the year to December 31, 2015, latest financial statements available, revenues of 3.3million and a net profit of 1.7million euros. Shareholders equity at December 31, 2015 was $3.1million. No particular form of financing has been provided for the operation that will be financed through existing credit lines and whose execution date is expected before the end ofApril 30, 2017. The agreement is binding on the parties and subject to condition precedent to effect any significant relief that will emerge from the due diligence process that will be put in place as soon as the financials to December 31, 2016 will be available and positivere solution of the shareholders of Digital Bros. The shares that will be issued in favour of two associates salespeople will be fully available at the time the Board of Directors of Digital Bros has completed the formalities"

    Who are Digital Bros?

    "Operating on a global level, Digital Bros Group, strives for a product portfolio to reflect the markets in which it operates and is head-quartered in Milan, with offices in United States, Greater China, United Kingdom, France, Spain and Germany.

    On 30th June 2016, the Group registered gross revenues for € 110,2 million and a growth in Net Profit, to 12,5 million from 9.1 million at 30th June 2015.

    Founded in 1989 in Milan, Italy by Rami and Raffaele Galante and listed on the STAR segment of the Italian Stock Exchange since 2000, today Digital Bros is a global company combining technological evolutions with consumer habits and tastes.

    Creative excellence, innovation, efficiency and coverage of any distribution channel are the key characteristics of Digital Bros’ activity. Today the majority of the revenues are derived from the International Activity 82% and for 49% from the digital business.

    Today the Group operates worldwide in the video games world with the brands 505 Games and Halifax."

    Assetto Corsa is a racing simulation originally released on PC and now available on both Xbox One and PlayStation 4. The game comes complete with many cars and tracks, however further vehicles and circuits can be purchased as additional DLC from the respective game stores.

    If you like Assetto Corsa and wish to know more about the sim, keep up to date on the latest news or just hang around with your fellow AC fans then head over to the Assetto Corsa sub forum here at RaceDepartment. As well as publishing the latest happenings with the sim we hold a substantial modding archive containing some of the biggest and best mods available for AC. We support modding at RaceDepartment, its one of the things that make sim racing so wonderful. To help you create the best mods you can, and share in some of the limelight we have provided our Modding Discussion forum, a location where you can share your work in progress creations or ask questions of fellow knowledgeable individuals. Join in and let us know what you are working on at the moment!

    What do you think about this potential takeover by Digital Bros? Is this good news for the game? Would you like to see a new direction from the new owners? Let us know in the comments section below!
    • Wow Wow x 19
    • Angry Angry x 8
    • Haha Haha x 5
    • Sad Sad x 5
  2. Brownninja97


    well ok then

    seriously i dont know how to react to that

    didnt they say on the new years announcement that they had surprises in store, they were not messing around.
    • Agree Agree x 10
    • Haha Haha x 6
  3. paracletus


    Can't say i've heard of digital bros, any ties with racing car games already?
  4. Ross Garland

    Ross Garland
    R3E & AMS Club Manager Staff Premium

    So they sold out. What a shame. I don't want to jump to any conclusions, but I can't see it being a particularly good thing for AC or any potential sequel. Whenever a great little dev gets swallowed up by a big multi-national, they seem to go to pot. Time will tell I suppose.
    • Agree Agree x 20
    • Angry Angry x 1
  5. Bram Hengeveld

    Bram Hengeveld
    Founder Staff Premium

    The mother company behind Assetto Corsa's publisher 505 games I believe.
    • Like Like x 2
  6. CCKaren


    This is the funniest thing I've seen all week.
    • Love Love x 1
  7. Patrik Marek

    Patrik Marek

    maybe that's why there wasn't that many updates going on, ... they maybe decided to move on ( in case that they are leaving the development of AC )

    good for them I suppose! and time will tell what this means to gamers
    • Agree Agree x 5
    • Angry Angry x 3
    • Like Like x 2
  8. Leonardo Chaves

    Leonardo Chaves

    That makes me a lot less excited about the future and an eventual AC2.
    • Agree Agree x 16
  9. Dave_6



    From Marco's personal FB page.
    • Agree Agree x 5
    • Like Like x 1
  10. Rodent


    Huh, guess they lost the passion?
    • Agree Agree x 6
  11. NulTweeZes


    Let's hope they contract a new PR guy and keep Stefano away from the forums for the game's sake.
    Last edited: Jan 20, 2017
    • Haha Haha x 15
    • Agree Agree x 8
    • Like Like x 1
    • Love Love x 1
  12. Paul Jeffrey

    Paul Jeffrey
    RaceDepartment Editor-in-Chief Staff Premium

    I hear (but cannot verify) that Marco will probably be staying put, however what will happen to the other guys I really don't know. I must stress the Marco staying rumour is exactly that, a rumour. Sadly I don't speak Italian and all the info and facts around this seem to be rather confused at the moment. No doubt all will be much more clear tomorrow.

    I'll see what I can find out :)
    • Like Like x 12
  13. kedy89


    rip AC
    • Agree Agree x 11
    • Sad Sad x 4
  14. gamer19


    I've heard of Warner bros but, you say ...Digital ? :O_o:
    Well, maybe Warner just turned ...digital you know. :ninja:
    Aokey, lemme Google it...

    Btw, This can't be good I'm afraid.
    • Agree Agree x 4
    • Haha Haha x 1
  15. Tim Meuris

    Tim Meuris

    Don't know if this means good or bad news. For now i ll keep the optimism metre on low...
    • Agree Agree x 5
    • Sad Sad x 2
  16. Albert McSaltens

    Albert McSaltens

    not sure if this is true but if so yeah... the independent team...
  17. Amir Vodokotlic

    Amir Vodokotlic

    This is bad news, considering that is publicly traded company.
    They probably could give two ..... about customers. They're after profit.

    In ac forums it says that Marco and Stefano will stay on.

    If Stefano moves on, that's it pretty much death of AC...guy was the whole brains behind AC.

    On one hand congratulations to them, I doubt any of us would turn that money down.
    • Agree Agree x 13
    • Like Like x 1
  18. Matheus Machado

    Matheus Machado
    Talking Door Racing

    Hopefully this move will be used to bump up AC distribution around the world.

    The deal only mentions about a purchase of a trademark, so chances are the main structure will stay the same.

    Marco has made some very clever business moves over AC development course, so I wouldn't doubt this is one more of them.
    • Like Like x 10
    • Haha Haha x 2
    • Agree Agree x 1
  19. arthur666


    You dangle 7 digits in front of me, and say "your family will be financially secure for life", you can have that passion.
    Good for them. I understand. But I hope AC continues to be great, and I bet it will.
    • Agree Agree x 15
    • Like Like x 3
    • Sad Sad x 1
  20. Tom Blackett

    Tom Blackett

    Hope bubble didn't just go bang.
    • Agree Agree x 1