EPTI (“EPTI” or “the Company”) has signed a new agreement within its offering Venture Building as-a-Service with the partly owned digital cultural center Space. The agreement will be the third in a row where EPTI continues to be a technology partner with Space, a partnership that began in 2019. The new agreement runs for 12 months with an order value of SEK 2.9 million with an option for another 24 months where an additional SEK 5.4 million is added in the order value. The total order value will amount to at least SEK 8.3 million when the option is exercised and the payment will be made in cash.
EPTI already has an ongoing agreement regarding investments in Space. EPTI provides Space with technology resources that will be partially exchanged for shares, that investment is expected to be completed in Q4 2021. In the partnership, EPTI and Space have developed “Space Portal”, the systems for game launcher, app and administration that act as the digital contact in gaming and interaction with large parts of Space.
Space is a digital cultural center in the heart of Stockholm. A physical meeting place for the digital generation. Here, some of the most important ingredients in digital culture are combined, including gaming, music, content creation and digital know-how, all in the same place. An inclusive environment where people can meet, collaborate and create together with a community where new formations and business ideas take off.
Space is majority owned by Pophouse Entertainment, which was founded by Björn Ulvaeus and Conni Jonsson in 2014. The company owns and operates ABBA The Museum, Pop House Hotel, Cirkus, Hasselbacken and Space.
Måns Pontén Söderlind, Vice President EPTI comments: “After working closely with Space for almost two years, it feels great to be able to continue to actively contribute to the Space journey after its opening on 27th November. Space is completely unique and many in EPTI are also close to the interest in gaming, digital culture and in helping to democratize the access to tech knowledge needed to meet the needs of today and the future via Space Academy.”
Information about SPACE
Space is a digital culture center in the heart of Stockholm city. A physical meeting place for the digital generation. Our concept combines key ingredients of digital culture – gaming, music, content creation and digital knowhow, all under one roof. We offer an inclusive environment for people to connect, collaborate and create – enabling communities to thrive and explore new opportunities.
For more information, see the venture website www.space.cc/
Information about EPTI
EPTI has previously made a declaration of intent to enter into a share transfer agreement through which Invajo Technologies AB (“Invajo”) will acquire all shares in EPTI in a so-called reverse takeover.
EPTI invests capital and operational support for companies, entrepreneurs and founders to build market-leading innovative companies under the motto “We Empower Innovation”. As a venture builder, this is done by adding experience from other founders, capital, resources, processes, state-of-the-art technology as well as commercial execution and marketing. EPTI also starts companies and joint ventures with driven co-founders and companies. The companies in EPTI’s portfolio are in the segments Gaming, Fintech, Marketplace, SaaS and Services. Since the start in 2017, a portfolio of more than 25 companies has been built up, of which the majority-owned companies comprise a total of approximately 200 coworkers in seven countries around Europe. EPTI is more than an investment company, it is partly an investment company and partly a service company. A venture builder for founders, by founders.
For further information, please contact:
Robert, CFO, EPTI AB
Phone: +46 73-652 56 60
For international media enquiries, please contact:
Benjamin Webb, Deliberate PR
Phone: +44 7930 408224