MGI - Media and Games Invest SE Announces Strategic Collaboration with Google Cloud

• Strategic collaboration between MGI and Google Cloud to consolidate MGI's marketplaces into one cloud infrastructure, which is expected to drive economies of scale.
• Significant cost savings of €20 million over the next four years based on improved financial terms.
• Leveraging Google Cloud's AI expertise promises additional strong operational synergies, driving improved performance and market share.

STOCKHOLM, SWEDEN / ACCESSWIRE / April 8, 2024 / MGI - Media and Games Invest SE ("MGI" or the "Company", ISIN: SE0018538068; ticker M8G; Nasdaq First North Premier Growth Market and Scale Segment Frankfurt Stock Exchange), today announced a strategic collaboration with Google Cloud aimed at optimizing operational performance and driving cost efficiencies.

Consolidating MGI's marketplaces into a single cloud infrastructure on Google Cloud

Consolidating on a single cloud platform will allow MGI's technology teams to specialize on a unified stack, empowering increased development agility, reduced operational overhead, and highly optimized and cost-efficient business management at a high scale. An integrated and unified technology stack not only streamlines operations but is also expected to be a key driver of the company's long-term objectives. The activities to enable these migrations have started, and the majority of the consolidation is planned to be accomplished by mid-2025.

Leveraging Advanced Cloud AI Capabilities for Operational Excellence

Leveraging Google Cloud's advanced AI capabilities, including the Vertex AI platform, offers substantial opportunities for further innovation within MGI's business operations. MGI's AI-driven products, such as Moments.AI and ATOM, are expected to significantly benefit from Google Cloud's cutting-edge cloud AI technology.

Cost Savings and Efficiency Enhancement with Direct Impact on EBITDA

Consolidating the marketplaces from multiple cloud infrastructures to a unified single cloud environment will enable economies of scale, and the collaboration with Google Cloud is expected to deliver cost savings of approximately €20 million over the next four years.

Remco Westermann, CEO of MGI: "We are pleased to announce our partnership with Google Cloud, marking a milestone for MGI and affirming our position as a strong and relevant player in the industry. This collaboration is expected to yield substantial cost savings of €20 million over four years, while enhancing our operational efficiency and strongly supporting our AI focus. Consolidating our marketplaces and leveraging Google Cloud's advanced AI capabilities will drive innovation across our products. We are enthusiastic about the opportunities ahead."