Gaming
Azerion successfully completes its business combination with EFIC1
Azerion Holding B.V., a high-growth, profitable, digital entertainment and media company, and European FinTech IPO Company 1 B.V. (“EFIC1”), a special purpose acquisition company (SPAC) listed on Euronext Amsterdam, have successfully completed their business combination on 1 February 2022.
As part of the completion of the business combination, the legal form of the combined company has been converted into a limited company (naamloze vennootschap) and it has been renamed Azerion Group N.V. (“Azerion Group”). The first day of trading on Euronext Amsterdam under the new name of Azerion Group’s shares and warrants will be on 2 February 2022 (today) under the new ticker symbols AZRN and AZRNW, respectively.
The business combination received the support of EFIC1’s shareholders, with more than 95% of the votes cast at EFIC1’s extraordinary general meeting held on 31 January 2022 (the “EGM”) approving the business combination.
The completion of the business combination supports Azerion Group in its ambitions to become a global digital entertainment and media powerhouse. The business combination furthermore provides for a strong complementary partnership accelerating future value creation for all stakeholders through continued investments in Azerion Group’s growth, both organically and through M&A. Azerion Group expects this listing to create a new long-term supportive shareholder base, permit Azerion Group to incentivise the existing and future management team and senior staff and continue to attract high calibre individuals.
The business combination resulted in approximately €93 million of gross total primary cash proceeds, including approximately €70 million of funds from the EFIC1 escrow account (net of negative interest and after effectuation of the share repurchase arrangement) complemented by a sponsor and co investor commitment of €23.15 million. With the completion of the business combination, Azerion Group received approximately €56 million of net primary cash proceeds (net of transaction costs and expenses), which will be used to continue to pursue value-accretive acquisitions (with Azerion having a strong acquisition track record and a broad pipeline of potential targets), and to further invest in organic growth initiatives (such as new games and features, platform investments, etc.) as well as general corporate purposes.
Immediately after completion of the business combination and the related restructuring steps (including the cancellation of 31,228,299 ordinary shares that were repurchased by EFIC1 from its shareholders), the issued share capital of Azerion Group is as follows:
1
Public
Type of security #¹
Ordinary Shares (excl. treasury) 111,483,296
Ordinary Shares in treasury² 70,078,452
Total Ordinary Shares 181,561,748
Capital Shares 22
Conditional Special Shares 1,152,886
Warrants³ 12,736,605
Please see section 6.4. “Description of Securities” in the EFIC1 Shareholders Circular dated 13 December 2021 for a description of the classes of securities of Azerion Group.
1. Excluding any conditional and unconditional option rights and Founder Warrants existing at the date of this press release, which in aggregate entitle the holders to receive up to a maximum of 24,160,245 Ordinary Shares. 2. The Ordinary Shares in treasury can be used for acquisitions, exercise of warrants and option rights and other general funding purposes.
3. The outstanding Warrants listed on Euronext Amsterdam at the date of this press release entitle the holders to receive up to 12,736,605 Ordinary Shares.
Immediately after completion of the business combination, the ownership percentages of Ordinary Shares are as follows:
Shareholder % Ordinary Shares⁴
Principion Holding B.V.⁵ 74.3%⁶
Azerion former depositary receipt holders 7.5%
Azerion former stock appreciation rights holders 4.0%⁷
Former EFIC1 converted special shares holders 5.9%
Other Shareholders 8.3%
Total 100.0%
Based on Azerion Group’s information. Actual share ownership percentages and regulatory filings and notifications of ownership percentages may differ.
4. Excluding treasury shares as well as any conditional and unconditional option rights and Founder Warrants existing at the date of this press release, which in aggregate entitle the holders to receive up to a maximum of 24,160,245 Ordinary Shares.
5. An entity controlled by Azerion’s co-founders and co-CEOs.
6. Including shares held for settlement of future acquisition-related earn out and other obligations. 7. Excluding shares held for settlement of future acquisition-related earn out and other obligations.
Atilla Aytekin, co-founder and co-CEO of Azerion says: “Today marks an important step for Azerion, and we are excited to finally enter the public markets and continue to grow and advance our platform whilst raising our profile amongst our customer and partner groups and talented workforce globally. We are proud to achieve this important milestone, and we look forward to our next growth phase and future
2
Public
as a public company. I am grateful to the entire Azerion team for all their hard work, which has brought us to this pivotal moment, and for the dedicated support of our partner EFIC1.”
Martin Blessing, former Chief Executive Officer of EFIC1, adds: “The journey of our SPAC EFIC1 comes to a successful end while the exciting journey of Azerion as a listed company starts now. The whole EFIC1 team thanks its shareholders for their support. We look forward to continuing our partnership with Azerion over the long term and wish the company, its founders, employees and shareholders success as they continue their impressive growth story.”
To celebrate the completion of the business combination, the management team of Azerion Group will ring the opening bell at Euronext Amsterdam at 09.00 CET on 2 February 2022. A live stream of the event and replay can be accessed via this link.
Advisers
Credit Suisse Bank (Europe), S.A. acted as capital markets adviser, Hogan Lovells International LLP acted as legal adviser and ABN AMRO Bank N.V acted as financial adviser to EFIC1.
N.M. Rothschild & Sons Limited acted as financial adviser, Stibbe N.V. acted as legal adviser, and Citigroup Global Markets Europe AG and Jefferies GmbH as capital markets advisers to Azerion.
ABN AMRO (acting in cooperation with ODDO BHF SCA), ING Bank N.V. and Pareto Securities AB acted as co-capital markets advisers to EFIC1, and Clifford Chance LLP acted as legal adviser to the capital markets advisers.
Liquidity Provider
As from 2 February 2022, Azerion Group will enter into a liquidity provider agreement pursuant to which ABN AMRO Bank N.V. will act as liquidity provider for the trade in listed shares of Azerion Group.
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Africa
South Africa’s Top Gamers Crowned at 2025 MTN SHIFT Gaming Grand Finals at Canal Walk
Reading Time: 2 minutes
Massive wins, standout talent and a showdown wrapped up five months of fierce competition across the country.
After months of qualifiers and regional heats at eight Hyprop malls across South Africa, the MTN SHIFT Gaming Experience reached its electrifying conclusion at Canal Walk Shopping Centre. With hundreds of spectators and players packing the gaming arena, the national finals brought the heat and crowned South Africa’s best in EAFC 25
, Beat Saber, Call of Duty and more.
In the EAFC National Final, Hamza Moosa (17) from Sandton, proved why he’s one of the country’s most exciting young talents. A professional esports player for Goliath Gaming, Moosa outplayed the competition to take top honours. A familiar name on the international stage, he recently represented South Africa at the Esports World Cup qualifier in Saudi Arabia. Hamza left the MTN SHIFT Gaming national finals with prize money of R25000.
Beat Saber fans saw a fast-paced, high-score battle won by Michael Prange (17) from Pretoria and Garsfontein High School. Ranked #2 nationally, Prange is also a two-time Beat Saber World Cup competitor and has helped shape South Africa’s competitive VR rhythm community through coaching, mentorship, and global participation. As the 2025 MTN SHIFT Gaming Beat Saber national champion, Michael won a Gaming PC valued at R50000.
In the schools division, Ridhaa April, 15, from Cape Town’s Southern Suburbs, took the EAFC title. A prodigious talent who’s been competing since the age of 12, Ridhaa plays professionally for Goliath Gaming and already holds multiple top finishes, including 1st place at the 2025 ASL.
In the Rocket League school tournament, Curro took top spot, followed by Edgemead High in second place.
Meanwhile, Call of Duty Mobile closed out the finals with serious intensity as returning champions Nixuh held onto their title. The dominant team of Magicz (Raees Ismail), Adnaan (Adnaan Bhamjee), Raz (Rahil Bux) and Enigma (Jameen Essa) walked away with a R30 000 cash prize.
“The atmosphere at this year’s finals was absolutely electric,” said Vanessa Herbst, Marketing Manager at Canal Walk Shopping Centre. “The level of skill on display was unreal, and the crowd brought their energy every day. The bar has been set very high for the 2026 edition.”
The MTN SHIFT Gaming Experience is South Africa’s biggest mall-based gaming tournament, played over five months across Gauteng and the Western Cape. Regional heats were hosted at Rosebank Mall, Clearwater Mall, The Glen, Woodlands, Table Bay Mall, Somerset Mall and Capegate Shopping Centre, with the final week of competition culminating at Canal Walk. The tournament drew thousands of players across all skill levels, offering more than R250 000 in prizes and a platform to compete in front of live audiences.
“The SHIFT Gaming Experience is about bringing high-level competition into public spaces and giving players of all ages the opportunity to compete, connect and grow,” said Christie Stanbridge, Brand and Campaigns Marketing Manager at Hyprop. “From pros representing South Africa on global stages to young players discovering their potential, far more than being entertaining, this year highlighted gaming as a space for learning, discipline and community.”
With the 2025 tournament wrapped, planning is already underway for an even bigger return in 2026.
The post South Africa’s Top Gamers Crowned at 2025 MTN SHIFT Gaming Grand Finals at Canal Walk appeared first on European Gaming Industry News.
Bonus Bag feature
TaDa Gaming Delivers Highway Thrills in Chicken Dash
Reading Time: 2 minutes
Award-winning TaDa has taken a favourite joke and transformed it into an immersive and humorous crash release. Simple mechanics, personalised risk management controls and a max win of 20,659.1x are enhanced with slick graphics and a fearless chicken.
And with an expanding bonus bag that fell off the back of a lorry, it’s easy to see why this chicken is so determined to get to the other side.
Players begin by setting their preferred gameplay parameters. Three levels of Easy, Normal and Hard will dictate the level length or number of tiles the bird has to cross and the level max multiplier value.
Strong clear colours and polished visuals set the scene for the determined chicken to make it across the motorway. Beginning on the grass verge, players click to send the bird across the lanes one multiplier tile at a time against the oncoming traffic.
Each safe step will see a safety barrier land to protect the chicken but one false move and it’s game over and back to the grass verge.
Keeping players on high alert, the Chicken Dash feature can randomly trigger multiple times in a game. The appearance and squawking of the rooster starts the bonus feature which protects the chicken from traffic throughout and allows it to pass over two or three tiles in one go.
A Bonus Bag feature can also randomly trigger. Players must land the chicken on the tile where the bag dropped to collect the prize. And the higher the risk level, the higher the prize.
A clear UI and straightforward gameplay mean players can focus on getting the chicken across the road in one piece – and hopefully with the bonus prize – while enjoying Chicken Dash’s crisp graphics and sly details in this high volatility and amusing game.
Sean Liu, Director of Product Management at TaDa Gaming, said: “Chicken Dash is a hugely entertaining crash game that will have players laughing out loud. The cartoon graphics add to the experiential play and we promise no chickens were hurt in making of this game.”
The post TaDa Gaming Delivers Highway Thrills in Chicken Dash appeared first on European Gaming Industry News.
Cash Rain Event
TaDa Gaming Releases Cash Stack
Reading Time: < 1 minute
TaDa Gaming, a leading provider of innovative casino content, is redefining fast-play entertainment with the release of Cash Stack, an adrenaline-pumping crash game that puts timing, control and strategy directly in the player’s hands. With a max multiplier of 100x, Cash Stack delivers rapid gameplay, instant decisions and nonstop engagement.
Built for players who love simplicity and control, Cash Stack starts at a 1.01x multiplier, with the tension rising as players manually tap DROP to increase their payout potential. Every decision carries risk — one mistimed move and the round ends instantly. For those who dare, the game can soar up to 100x before the stack collapses.
The twist comes with the Cash Rain Event, a random in-game boost that can multiply winnings by 0.1x to 10x. Players must hit CASH OUT before the round ends to claim the bonus value, adding a thrilling layer of timing and anticipation. The result is a fast, skill-driven experience that rewards quick reactions and nerve.
Cash Stack embodies TaDa Gaming’s next step in the evolution of crash games — sleek visuals, simple mechanics and an emphasis on player control over automatic outcomes.
Sean Liu, Director of Product Management at TaDa Gaming, said: “Cash Stack takes the essence of crash gameplay and turns it into a true test of timing and instinct. Every round is a balance between greed and precision — do you cash out early or chase the big win? We’ve designed it to be fast, flexible, and highly engaging for players who want to feel in control.”
The post TaDa Gaming Releases Cash Stack appeared first on European Gaming Industry News.
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