LONDON, June 26, 2024 (GLOBE NEWSWIRE) -- OV Entertainment Group, a newly formed UK-based global multimedia entertainment company, encompassing games, film/TV, and advertising industries, has finalized two strategic acquisitions in Latin America and Europe. The company has emerged as a significant player in the global cross-media market with its recent purchase of Brazil and Portugal-based Kokku, a leading AAA co-development studio, and 3OGS, a highly experienced tech and tools studio based in Argentina.
Expanding Our Horizons: Strategic Acquisitions in Latin America and Europe
Kokku, boasting a workforce of over 170 highly talented individuals and offices in Brazil and Portugal, has become a flagship addition to OV Entertainment’s portfolio. In a notable move, Thiago de Freitas, the CEO and founder of Kokku, has assumed the role of OV Entertainment Group CEO following the acquisition. This strategic decision leverages de Freitas' extensive experience and expertise in the entertainment industry and IP creation, positioning OV Entertainment for significant global growth.
The second acquisition, 3OGS, located in Cordoba, is an Argentinian premier tools and tech company known for its high-end engineering and programming services for the video games and broader entertainment industries. 3OGS serves a global clientele with top-tier gaming solutions for consoles, PCs, and mobile, providing porting, engine optimization, bug fixing, proprietary engine updates, continued development, R&D, tools, and much more. The acquisition of 3OGS underscores OV Entertainment’s commitment to pushing the boundaries of technology and diversifying its offerings while expanding its presence in the Latin American landscape.
A Unified Vision: Leadership and Strategic Direction
OV Entertainment has expressed a broader strategic vision beyond the gaming sector. De Freitas stated, "This movement marks the inaugural step in our bold strategy to unify the entertainment industry with cutting-edge technology, AAA talent, and cross-media expertise. Together, we are building a cross-media company focused on strong brands, organic growth, and profitability. By leveraging the combined expertise of our teams, we are pushing the boundaries of the entertainment industry further than ever before. This encompasses games, films/TV, advertising, and tech and tools, all under one roof, thereby mitigating the risks associated with working in a single industry.
Thiago de Freitas, OV Entertainment Group CEO
We are positioning ourselves to be at the forefront of an entertainment industry that continues to blur the lines between games, film, and television, providing deeper experiences and attracting more diverse audiences worldwide. Our enhanced capabilities will allow us to develop and monetize strong IPs across multiple platforms and entertainment mediums. We are thrilled about the vast opportunities and we are eager to set new benchmarks in the entertainment industry. Together, we are not just adapting to the future of entertainment—we are actively shaping it.”
Voices from Our New Family Members
“By joining OV Entertainment Group, we believe that Kokku’s opportunities in the long term to work on more innovative and larger cross-media projects will increase exponentially,” said Kokku’s studio head, Ricardo Flores. “We have seen the convergence of games, film/TV, and advertising for quite some time and now we will be able to fully immerse ourselves through this partnership.”
Mauricio Navajas, Co-founder and CEO of 3OGS continued, “Through OV Entertainment, we feel our opportunities to grow, evolve, and innovate will expand greatly. We are already working on new and exciting projects and getting ready to create technology not only for the video games industry but also for film, TV, and more.”
Future Prospects and Leadership Expansion
Both Kokku Games and 3OGS are poised for substantial growth, with plans to double their output in 2024. OV Entertainment, known for celebrating founders and its commitment to fostering a supportive environment, is enthusiastic about providing the necessary expertise to facilitate the success of these acquisitions in the dynamic and challenging entertainment industry.
In line with its expansion strategy, OV Entertainment has bolstered its leadership team with industry veterans with significant operational expertise. Christopher Bergstresser, a former executive at Sega, MTG, EG7, and Miniclip, assumes the role of Chief Strategy Officer (CSO), and Oliver Kern, a former executive at Jagex and Lockwood, steps in as Chief Operating Officer (COO). These seasoned professionals are expected to play a crucial role in guiding OV Entertainment through its growth plans.
Looking Ahead: Strategic Expansion Plans
Looking ahead, OV Entertainment has ambitious plans for 2024, aiming to make two other strategic acquisitions. The company's commitment to strategic expansion positions it as a key player in the global entertainment industry, ready to explore new opportunities and provide comprehensive support to production companies across various sectors.
For more information about OV Entertainment Group and its new acquisitions, please visit www.oventertainment.group.
A press kit for OV Entertainment Group can be found here: https://uberstrategist.link/OV-Entertainment-Press-Kit
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/73b7f0d2-bb02-479d-921c-89ee63165797
About OV Entertainment Group:
OV Entertainment Group employs a bold strategy to unify the entertainment industry through strong entrepreneurs and founders, cutting-edge technology, AAA talent, and cross-media expertise. The company is building a cross-media enterprise focused on strong brands, organic growth, and profitability. By leveraging the combined expertise of their teams, OV Entertainment is pushing the boundaries of the Entertainment Industry further than ever before. Their strategy encompasses Games, Films/TV, Advertising, and Tech & Tools, all under one roof.
About Kokku
Kokku stands as a premier provider of end-to-end creative development and Co-Development for AAA/AA projects, boasting a strong presence with offices in Europe and LatAm. Renowned for its collaborative approach, the company specializes in delivering a diverse array of AAA/AA titles across platforms like Consoles, PC, and Mobile. Their esteemed partners include industry giants such as Activision, Guerrilla Games, Codemasters, Electronic Arts, Paradox Interactive, Samsung, Netflix, and many more.
About 3OGS
3OGS is an Argentinian premier Tools & Tech Company, known for its high-end engineering and programming services for the Video Games Industry. Operating with high EBITDA margins, 3OGS serves a global clientele with top-tier gaming solutions for Consoles, PC, and Mobile, providing Porting, Engine Optimization, Bug Fixing, Proprietary Engine Updates and Continued Development, R&D, Tools, and much more.
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