Video Game Studio Sells 20 Percent of Shares with Help from Interactive Entertainment Law Group, Pillar Legal
The Interactive Entertainment Law Group advised Certain Affinity Inc., an Austin, Texas-based video game studio, with the sale of 20 percent of its issued shares to Leyou Technologies Holdings Limited for $10 million.
The company also entered into a Game Development Agreement with Hong Kong-based Leyou Technologies to develop a video game across platforms based on the Hasbro Inc. property franchise “Transformers.” Leyou Technologies will provide up to $15 million toward the costs of developing the game.
The transaction, completed on Oct. 30, includes an option for Leyou Technologies to acquire all of the remaining stock of Certain Affinity not then held by Leyou Technologies based upon an agreed valuation formula not to exceed $150 million.
David S. Rosenbaum was lead partner from Interactive Entertainment Law Group in El Segundo to advise Certain Affinity with assistance from Mona Ibrahim, a senior associate. Miller, Egan, Molter & Nelson LLP in Austin, led by partners Matt Bair and Thomas R. Nelson, were co-counsel for Certain Affinity. Leyou Technologies was represented by Pillar Legal PC, based in Pleasanton and Shanghai, led by founder Greg Pilarowski.