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Games Industry Veteran Henrik Nielsen Joins Hugo Games

Financing will be used to increase product development capacity, assist in customer acquisition and support the commercial launch of new game titles

COPENHAGEN (December 14, 2017) – Hugo Games A/S (OAX: HUGO), a Nordic mobile games developer and publisher, announced the addition of games industry veteran Henrik Nielsen as CEO. Nielsen was previously CFO and COO of Unity Technologies for 7 years, leading it through dramatic growth and helping establish it as the leading 2D and 3D game engine and platform. In addition, it announced a capital raise of $5 Million USD, to be used for a new growth strategy aimed at taking a larger share of the fast growing global gaming industry.

On December 4, Hugo Games entered agreements with a group of new investors to raise proceeds through a private placement of its stock. The financing was led by a group of private Norwegian investors including Silvercoin AS, Tigerstaden AS and others. Among the Danish group of investors are several senior members of the Hugo Games management team underlining their confidence in the current market position and future potential of Hugo Games.

Proceeds from the private placement will be used by Hugo Games to enhance its overall product development capabilities by achieving higher capacity, shorter development cycles and better quality in the gaming experience for mobile users. They will also be used to add significant resources for the commercial launch of new game titles, ensuring higher visibility and increased customer acquisition.

“We are really pleased with the timing and strategic nature of this offering. With a sound cash position, validation from industry investment, and continued support from our major shareholders, we are now ready to execute our expansion plans with full confidence,” said Henrik Nielsen, CEO, Hugo Games. “Our entire team is eager to capitalize on the investment, and take Hugo Games to the next level.”

As announced on 29 September, Henrik Kølle has recently stepped down as CEO of Hugo Games, but remains active in the company as Chairman of the Board of Directors. He has been replaced by the new CEO, Henrik Nielsen, who has a long track record of experience from the global gaming industry including seven years as COO & CFO of Unity Technologies, a leading 2D and 3D game engine and platform.

“Henrik brings a wealth of experience to Hugo Games, particularly from Unity where he played a pivotal role in transforming an early stage start-up to a leading global player in the gaming industry. We believe he will be a great asset to our team as we expand our portfolio of games and step up our effort to form strategic partnerships with third party companies or celebrities that own IP we can utilize to create exciting gaming experiences,” said Henrik Kølle, Chairman of the Board of Directors, Hugo Games.

Hugo Games builds on a media franchise that dates back to the early 90’s and a popular TV series named ‘Hugo the TV troll’ that aired in more than 40 countries. Today, the company is an IP development house with a broad portfolio of mobile games across different categories. Sports games is one example with global IP’s such as Real Madrid, Barcelona, Paris Saint-Germain, Juventus, Liverpool Arsenal, Borussia Dortmund, Porto and Monaco. Other upcoming titles include Doodle Jump, Christiano Ronaldo, Vikings (HBO) and other games that have been fully acquired or are distributed through partnerships with third party companies or celebrities.

About Hugo Games
Hugo Games is a Nordic mobile games publisher and developer with offices in Copenhagen and Nottingham. We are a publicly traded company listed on Oslo Axcess AS. At Hugo Games we are passionate about games and we are committed to making titles that will engage and bring genuine joy to people for years. We have a consistent portfolio of games globally available across a wide range of platforms including iOS, Android, Windows, Amazon and Facebook.

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