Research News and Market Data on SNAL
October 11, 2023 at 4:00 AM EDT
Under the Agreement Snail Games Will Partner With Angela Game to Distribute Myth of Empires on Digital and Retail Platforms
CULVER CITY, Calif., Oct. 11, 2023 (GLOBE NEWSWIRE) — Snail, Inc. (Nasdaq: SNAL) (“Snail”), a leading, global independent developer and publisher of interactive digital entertainment and video game software, along with its subsidiary Studio Wildcard, has officially disclosed a settlement agreement with Suzhou Angela Online Game Technology Co., Ltd (“Angela”) and Imperium Interactive Entertainment Limited (“Imperium”). The settlement marks the resolution of copyright and trade secret litigation concerning Myth of Empires (MoE) and includes ongoing royalty payments of Myth of Empires from Angela to Snail, while Snail assists the distribution of Myth of Empires. While details of the Settlement and Release Agreement remain confidential, the parties jointly announced the resolution of their disputes and Snail Games’s cooperation with Angela in the distribution of Myth of Empires going forward.
The original legal complaint can be found HERE:
https://casetext.com/case/suzhou-angela-online-game-tech-co-v-snail-games-us-inc-3/
Full title: Suzhou Angela Online Game Technology Co., Ltd. et al. v. Snail Games USA…
Court: United States District Court, Central District of California
“Following nearly two years of litigation, we are pleased to announce this settlement agreement for Snail, Angela, and Studio Wildcard. Angela acknowledges that it caused difficulties for Snail’s business. By working together, Angela and Snail will put those difficulties behind them. Angela regrets any difficulties it caused Snail and looks forward to moving into this business partnership. At the same time we hope that, with Snail’s extensive user resources and excellent platform relationships built on ARK, they can assist us in our future publishing efforts, injecting greater market vitality into Myth of Empires,” said Yi Ling Zheng, President, Angela Game.
“We are pleased to announce this settlement agreement and facilitate the re-release of Myth of Empires which benefits both parties and opens up additional revenue streams for us through the partnership with Angela,” said Doug Kennedy, Co-founder of Studio Wildcard.
This is pursuant to the terms of the settlement, Snail Games will withdraw its DMCA Notice against Myth of Empires and work collaboratively with PC distribution platforms for a re-release of the game in early 2024. Additionally, Snail Games will partner on the global launch of MoE on both PlayStation and Microsoft platforms in early 2024 and will assist in public relations, marketing, and first party support for the game. Myth of Empires will be released by Angela and Snail Games both physically and digitally on console and PC. Angela Games will also develop a steady cadence of DLC and expansion packs for Myth of Empires, in partnership with Snail Games USA.
About Snail Games USA, Inc.
Snail Games is a leading, global independent developer and publisher of interactive digital entertainment for consumers around the world, with a premier portfolio of premium games designed for use on a variety of platforms, including consoles, PCs and mobile devices.
About Angela Game
Founded in 2019, Angela Game is a developer devoted to creating next-generation multiplayer titles that feature profound realism and authenticity, immersive large-scale battles, and innovative gameplay.
Contacts:
Investors:
investors@snail.com