- ISIN SE0018538068
- Land Schweden
Verve Group SE (Nordic)
MGI – Media and Games Invest SE Announces Strategic Collaboration with Google Cloud
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MGI – Media and Games Invest SE Announces Strategic Collaboration with Google Cloud MGI – Media and Games Invest SE Announces Strategic Collaboration with Google Cloud
April 08, 2024 (08:10 CEST) – MGI – Media and Games Invest SE (“MGI” or the “Company”, ISIN: SE0018538068; ticker M8G; Nasdaq First North Premier Growth Market and Scale Segment Frankfurt Stock Exchange), today announced a strategic collaboration with Google Cloud aimed at optimizing operational performance and driving cost efficiencies.
Consolidating MGI’s marketplaces into a single cloud infrastructure on Google Cloud Consolidating on a single cloud platform will allow MGI’s technology teams to specialize on a unified stack, empowering increased development agility, reduced operational overhead, and highly optimized and cost-efficient business management at a high scale. An integrated and unified technology stack not only streamlines operations but is also expected to be a key driver of the company’s long-term objectives. The activities to enable these migrations have started, and the majority of the consolidation is planned to be accomplished by mid-2025. Leveraging Advanced Cloud AI Capabilities for Operational Excellence Leveraging Google Cloud’s advanced AI capabilities, including the Vertex AI platform, offers substantial opportunities for further innovation within MGI’s business operations. MGI’s AI-driven products, such as Moments.AI and ATOM, are expected to significantly benefit from Google Cloud’s cutting-edge cloud AI technology. Cost Savings and Efficiency Enhancement with Direct Impact on EBITDA Consolidating the marketplaces from multiple cloud infrastructures to a unified single cloud environment will enable economies of scale, and the collaboration with Google Cloud is expected to deliver cost savings of approximately €20 million over the next four years. Remco Westermann, CEO of MGI: “We are pleased to announce our partnership with Google Cloud, marking a milestone for MGI and affirming our position as a strong and relevant player in the industry. This collaboration is expected to yield substantial cost savings of €20 million over four years, while enhancing our operational efficiency and strongly supporting our AI focus. Consolidating our marketplaces and leveraging Google Cloud’s advanced AI capabilities will drive innovation across our products. We are enthusiastic about the opportunities ahead.” Responsible parties The information in this release has been made public through the agency of the responsible persons set out below for publication at the time stated by MGI’s news distributor EQS Newswire at the publication of this release. The responsible persons below may be contacted for further information. For further information, please contact: Sören Barz Danesh Zare About MGI – Media and Games Invest SE MGI – Media and Games Invest SE (MGI) operates a fast-growing, profitable ad-software platform that matches global advertiser demand with publisher ad-supply while improving results through first party data from own games as well as AI driven contextual data solutions. MGI’s main operational presence is in North America and Europe. Through investments in organic growth and innovation, as well as targeted M&A, MGI has built a one-stop shop for programmatic advertising, enabling companies to buy and sell ad space across all digital devices (mobile apps, web, connected TV and digital out of home), with the mission to make advertising better. MGI is registered as Societas Europaea in Sweden (registration number 517100-0143) and its shares are listed on Nasdaq First North Premier Growth Market in Stockholm and in the Scale segment of the Frankfurt Stock Exchange. The Company has three secured bonds that are listed on Nasdaq Stockholm and on the Frankfurt Stock Exchange Open Market. The Company’s certified advisor on Nasdaq First North Premier Growth Market is FNCA Sweden AB; info@fnca.se. Forward-looking statements This release contains forward-looking statements that reflect the Company’s intentions, beliefs, or current expectations about and targets for the Company’s and the group’s future results of operations, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company and the group operates. Forward-looking statements are statements that are not historical facts and may be identified by words such as “believe”, “expect”, “anticipate”, “intend”, “may”, “plan”, “estimate”, “will”, “should”, “could”, “aim” or “might”, or, in each case, their negative, or similar expressions. The forward-looking statements in this release, including the pro-forma financial figures addressed therein, are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that the expectations reflected in these forward-looking statements and pro-forma financial numbers are reasonable it can give no assurances that they will materialize or prove to be correct. Because these statements are based on assumptions or estimates and are subject to risks and uncertainties, the actual results or outcome could differ materially from those set out in the forward-looking statements as a result of many factors. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The Company does not guarantee that the assumptions underlying the forward-looking statements in this release (including the pro-forma financial figures) are free from errors and readers of this release should not place undue reliance on the forward-looking statements in this release. The information, opinions and forward-looking statements that are expressly or implicitly contained herein speak only as of its date and are subject to change without notice. Neither the Company nor anyone else undertake to review, update, confirm or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this release, unless it is so required by law or applicable stock exchange rules.
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