Jumpgate's Board of Directors has resolved to divest the subsidiary Tableflip Entertainment AB ("Tableflip") to the studio management as part of a significant cost savings program. In the agreement the management of Tableflip take over the company for a symbolic consideration and the transaction is expected to close shortly. Don Geyer (CBDO) and Håkan Mattsson (CTO) is leaving Jumpgate in connection with the sale. Furthermore, the number of employees in the German operations has decreased by ca 30. Following this the number of employed in the group will be decreased by ca 50 %.

"The tough times in the game industry remain and it has taken longer time than expected to achieve the additional business needed to keep all our teams working on externally financed projects. Because of this, we are lowering the costs additionally to adjust to the sales status and to remain in a good position for our upcoming 2025 game releases. Tableflip had a significant negative impact on the cash flow in 2024 and we have thus agreed to part ways. It is always sad to have to depart from engaged and skilled co-workers and I especially want to thank Don Geyer and Håkan Mattsson for their contributions to the Company over the years. Given the state of the market, with significant downsizing across the industry, we will be able to scale back the business quickly on the back of new larger contracts," says Harald Riegler, CEO Jumpgate AB.

For additional information

Harald Riegler CEO, Jumpgate AB E-mail: ir@jumpgategames.se

About the Company

Jumpgate AB is an independent group of game development companies founded in 2011, comprising four game studios: Nukklear (Hannover), Tivola Games (Hamburg), gameXcite (Hamburg) and Funatics (Düsseldorf). The group develops and publishes its own games as well as developing games and other digital products for external companies. The companies in the group have established collaborations with strong industry partners and exciting product portfolios with large potential. The group is engaged in the global market, distributing games on a worldwide basis and has a large international network. For more information: www.jumpgategames.se

This information is such information Jumpgate AB (publ) is obliged to make public in accordance with the EU Market Abuse Regulation (MAR). The information was submitted for publication, through the agency of the contact persons set out above, at 2025-02-27 07:15 CET.