Streamplay Studio Enters into Agreement to Acquire North American Indie Gaming Leader, Noodlecake Studios

Streamplay Studio Limited (“Streamplay” or the “Company”) (ASX: SP8), is pleased to announce that it has entered into a binding Share Sale Agreement (“SSA”) to acquire 100% of Noodlecake Studios Inc. (“Noodlecake”), a profitable North American indie gaming company headquartered in Canada, from its parent company Zplay (HK) Technology Co. Limited (“Zplay”). The addition of Noodlecake aligns with Streamplay’s strategic direction, including the recent appointment of Silicon Valley tech advisor Paolo Privitera (ASX: 8 October 2024) to the board of directors, strengthening the Company’s North American and global gaming footprint.

HIGHLIGHTS

• Streamplay expands global reach and direct-to-consumer gaming presence across North America with acquisition of Noodlecake.
• Established in 2011, Noodlecake boasts a proven track record with a variety of over 60 in-house and published games achieving over 270 million downloads.
• Noodlecake has over its history generated over ~A$42 million through primary monetisation channels, with additional revenue from other sources.
• Noodlecake averaged annual revenue of ~A$7.3 million and EBITDA of ~A$1.8 million over the 3 years ending 31 December 2023.
• Noodlecake’s lean, high-impact operating model, maximises publishing reach with a focused team and global collaborations.
• Established partnerships with leading Tier 1 brands such as Apple, Google, Xbox, PlayStation, Nintendo, Steam and more.
• Provides Streamplay with immediate product and geographic revenue diversification via Noodlecake’s flexible publishing and monetisation strategies (premium sales, in-app purchases, advertising, and subscription-based models).
• Strengthens global expansion opportunities, including continued collaborations with Zplay in the Chinese gaming market.

About Noodlecake

Founded in Canada in 2011, Noodlecake is an established, reputable and profitable indie game studio and publisher. With a diverse portfolio of over 60 games listed across more than 10 storefronts and available in over 45 countries, Noodlecake has engaged players worldwide with award-winning content, achieving over 270 million downloads to date.

Since incorporation, the studio has generated significant revenue through its multifaceted monetisation strategy, including over A$15 million in in-app purchases, over A$9 million in direct game sales, and over A$18 million in advertising revenue, alongside other significant sources.

These revenues are strategically driven by the studio’s presence on major digital storefronts such as the Apple App Store, Google Play, Steam, and Nintendo Switch. Noodlecake’s adaptability to emerging opportunities is evident in its recent expansions into Xbox and PlayStation, with future releases targeting premium storefronts and subscription platforms.

Noodlecake boasts an impressive track record of publishing award-winning titles that have captivated both players and critics alike. Among its successes, “Yes, Your Grace” recently won Best Indie Game on Google Play for 2024,¹ showcasing their ability to support compelling and engaging indie experiences. “Golf Blitz”, an innovative multiplayer spin on the classic golf genre which was developed inhouse, earned critical acclaim and was featured as an Editor’s Choice by Apple in 2019.² Additionally, “Alto’s Odyssey”, another title published by Noodlecake, received an Apple Design Award in 2018³ for its exceptional artistry and gameplay.

Their games employ a range of revenue models tailored to each platform. Premium titles generate revenue through direct purchases, while free-to-play games monetise via in-app purchases and targeted ads.

Additionally, Noodlecake has a history of securing exclusive, curated partnerships with Apple Arcade, Google Play Pass, and Xbox Game Pass which provide consistent revenue through subscription-based engagement.

The studio’s upcoming game, “Winter Burrow”,⁴ set for release on Xbox Game Pass, Xbox storefront, Switch and Steam, early in 2025, is just one example of how Noodlecake leverages these partnerships to generate stable, upfront revenues.

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