Enad Global 7 completes acquisition of Cold Iron
Enad Global 7 (“EG7”) today announces that the previously announced transaction involving Cold Iron Studios, LLC (“Cold Iron”) has been completed. The transaction has been structured as an asset purchase, with Daybreak Game Company LLC, a wholly owned subsidiary of EG7, acquiring the assets and contractual rights relating to Cold Iron’s business.
Cold Iron is the developer of Aliens: Fireteam Elite, a cooperative third-person survival shooter set in the Aliens universe. The game has sold more than 3.5 million units to date and has established a strong foundation for the franchise.
Through the transaction, EG7 acquires the assets and rights relating to Cold Iron’s business, including intellectual property, contracts, technology and development assets. The transaction also transfers to Daybreak all Cold Iron staff and the license governing the game’s use of the Alien franchise IP in Aliens: Fireteam Elite. To be able to fully adjust the commercial arrangement, for the benefit of all shareholders in EG7 and in accordance with previous communication, some other assets will remain with Cold Iron. The new commercial terms between Daybreak and Cold Iron, as presented at the AGM, have been reflected in an amended publishing agreement.
The transaction will give EG7 greater control over investment decisions and strengthen the commercial and strategic alignment between Cold Iron’s development roadmap and EG7’s core strategic objectives. Furthermore, the Transaction aligns ownership and economic interests within the Group and its shareholders by simplifying the current structure related to Cold Iron. The transaction aims to align EG7’s incentives with key stakeholders while enhancing governance and transparency.
The purchase price for the acquired assets amounts to USD 3.0 million, less agreed transaction expenses, together with the assumption of certain agreed liabilities.
In connection with the transaction, the existing publishing agreement for Aliens: Fireteam Elite 2 has also been amended to reflect the new transaction and operating structure. The amended agreement provides EG7 with a first-out recoupment of its eligible development, publishing and commercialization costs, followed by a profit-sharing structure as previously communicated. For further details on the transaction, see press release from April 8, 2026, here.
The completion of the transaction follows the approval by EG7’s Annual General Meeting on May 12, 2026.
Advisors
DNB Carnegie Investment Bank AB (publ) acts as financial advisor and Baker McKenzie acts as legal advisor to EG7 in relation to the Transaction.