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Strategy First Signs Post-Resurrection European Distribution Deal

Strategy First Signs Post-Resurrection European Distribution Deal

July 7, 2005 | By Nich Maragos

July 7, 2005 | By Nich Maragos
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More: Console/PC

Strategy First, the former publisher of PC titles including Disciples: Sacred Lands, Kohan: Immortal Sovereigns, Galactic Civilizations, and Jagged Alliance, has announced a new distribution partner in the European market. The company has signed a deal with Lago srl that ensures the European release of ten upcoming games from Strategy First over the next nine months.

"We anticipate that this will be the beginning of a long and satisfactory partnership that will strengthen the marketplace presence of both companies," said Stewart Braybook, Strategy First's Director of European Operations. Virgilio Bixio of Lago srl commented on the deal, saying "Strategy First's growing palette of new and ground-breaking strategy titles, coupled with our aggressive new thrust into the rest of Europe, provides the perfect formula for commercial success."

The distribution deal is part of the continued resurgence of Strategy First, since the company's acquisition in April by Silverstar Holdings. Silverstar is currently focusing on acquiring game companies who produce games on a pay-to-play model, such as Fantasy Sports Inc.'s titles.

Silverstar's purchase of Strategy First allows it to branch into fee-based games on PC, as CEO Clive Kabatznik explained: "The operating leverage provided by the Internet and other distribution platforms provides a compelling business model that, if implemented successfully, can provide excellent shareholder value."

The buyout came a few months after Strategy First's filing for bankruptcy in late 2004. Silverstar Holdings' purchase apparently eliminated some of Strategy First's accumulated debt of over $5 million to investors and developers, following a tough few pre-bankruptcy months for the Canadian-headquartered publisher which had developers including Techland withdrawing its games from Strategy First's control.

However, when taking over the company in April 2005, Silverstar contributed $600,000 in cash and 400,000 shares of stock to Strategy First's creditors, and assumed another $400,000 of Strategy First's existing debt, and it's presumed that the situation with the company's creditors is now resolved.

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