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Mercia Asset Management PLC - Warwickshire, England-based regionally-focused asset manager - Invests GBP3.0 million in Soccer Manager Ltd. Says funding round comprised of GBP750,000 from Mercia's proprietary capital, GBP750,000 from the Northern Powerhouse Investment Fund and GBP1.5 million in matched funding from the UK government's Future Fund. Notes Mercia now holds a stake in Soccer Manager of 39%, with a further 7.6% held by Mercia's managed enterprise investment scheme funds. Adds the investment will support Soccer Manager's continuing growth.
"Soccer Manager is a great example of an innovative regional business which, with the determination of its founders, has scaled its recurring customer base and revenues by offering high-quality games to a very loyal community. The business was already on a strong growth trajectory before the pandemic but with the increasing numbers of at home gamers not expected to slow down, we believe that there is significant further potential in this asset," says Mercia Chief Information Officer Julian Viggars.
Current stock price: 24.30 pence
Year-to-date change: down 2.8%
By Zoe Wickens; zoewickens@alliancenews.com
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