RCP and Auctus form European games group Prestiged

Is this the German equivalent of the up-and-coming Swedish games groups? Remote Control Productions and Auctus Capital Partners have formed a joint venture, Prestiged, which is set to become a leading European games group.

The move is unexpected, but not surprising. Munich-based production company Remote Control Productions (rcp) and Auctus Capital Partners have entered into a strategic partnership. Together, they have launched a joint venture called Prestiged with the aim of creating a European gaming powerhouse. rcp, which has long operated a similar structure with a focus on the German-speaking region, will contribute its industry know-how to the joint venture, while Auctus will provide its financing expertise. The cooperation is not a merger; both rcp and Auctus will continue to operate as independent companies.

Prestiged will focus on Europe, but will also look for the "right teams" in other countries. The aim is to create a group of established gaming companies with creative independence, maximum market power, tailored synergies and a focus on long-term, sustainable growth.

"We have been looking at the gaming market for some time now, which only recently reverted back to more reasonable valuations," says Florian Aichinger of Auctus. "Entering more complex markets, however, should never be a pure consolidation play, which is exactly why we teamed up with Hendrik and rcp". Hendrik Lesser, CEO of rcp, adds: "Gaming is a complex and sometimes volatile business, for studios, staff and investors alike. However, we believe that with the proper combination of our industry insight and Auctus' financial savvy, we can create a genuinely fresh collaborative gaming group which will bring stability, profitability and creative freedom to its members. We’re stronger together - and we look forward to growing that strength with our new partners."