Mobile gaming company Jam City and DPCM Capital today announced that they have entered into a definitive merger agreement.
The transaction values the combined company at an enterprise value of $1.2 billion.
The deal is expected to add approximately $115 million of cash to the combined company’s balance sheet, including a committed PIPE of $100 million.
Pending regulatory and shareholder approvals, upon closing the combined company will operate as Jam City Holdings, and its Class A common stock is expected to list on the NYSE under JAM.
The global mobile gaming market includes more than 2.7 billion players and is expected to exceed $205 billion in revenue by 2023, according to Newzoo. Read more.
