Gamigo Buys KingsIsle Entertainment For $210 Million

On January 16, 2021 Media and Games Invest (MGI), the company that owns Pirate101, was acquired for $126 million with up to $86 million in additional payouts if the studio hits certain revenue goals in 2021.

Released in 2008, Wizard101 combines turn based combat and card game elements to create a unique, child-friendly MMORPG experience.

The official press release announcing the deal includes a wealth of financial information on KingsIsle and MGI. KingsIsle is expected to bring in around $30 million in revenue for FY2021, about $25 million short of their maximum earn out threshold ($55mil). Wizard101 fans can expect plenty of sales and new content this year to help goose those numbers!

Pirate101 received noticeably less coverage, but the incentive to hit revenue goals may mean special promotions for the swashbuckling sequel as well.

Further Reading: Official Press Release