Robot Teddy is a consulting agency founded by a guy called Callum Underwood. Now, Callum is a unique guy, and Robot Teddy is a really unique company. They hold a special position in the gaming industry, and they do a number of things. For one, Robot Teddy have a knack for partnering up with game developers that make very successful games. Like, let's say you're a game developer and you've made a hit game. In that case, you typically don't need a regular publisher to take care of sales and deals and marketing for your studio because your game is really popular, and it's largely selling itself. You wanna focus on making games, and someone has to develop your business and make sure the game stays popular. That's where Robot Teddy comes in. They manage business and strategy for multiple successful studios and games, including worldwide hits like Among Us, Gang Beasts, and SUPERHOT, and they're doing a fine job. A lot of the time, it's actually Robot Teddy that gets approached by developers. Alongside this, Callum and his team have a vast network. They keep their ears very close to the ground and are often the first to know what's happening in the gaming industry, and that means they're also really good at identifying games and studios that will become gold nuggets before others see it. Now, that's of course a very useful ability to companies like Thunderful Group as we're constantly looking to sign great games and studios. Robot Teddy is what you call a distributed business, so they're present in all parts of the world. The headquarters is in the U.K., and they got partners in the Philippines, South Africa, Netherlands, Canada, and so on. The reason why Thunderful is buying Robot Teddy is obviously that we want them to keep doing the things they do so well. There's also another reason that's perhaps even more important. As you know by now, we here at Thunderful operate in two business segments, Thunderful Games and Thunderful Distribution. So far, the game segment has consisted of two subdivisions that we simply call development and publishing. The development division contains our game studios and teams that make games such as Image & Form, Zoink, Coatsink, The Station, Stage Clear, and so on. The publishing division publishes the games we make internally, but also games made by external studios. Now, the day-to-day business of these divisions differ from each other. Game development takes a lot of time and constant focus. We can typically only work on a limited number of games at any given time. On the other hand, we keep the IP rights and have full control of the content. Game publishing, on the other hand, is less labor-intensive per title. Publishers have less control of the games, and IP rights almost always stay with the developers. We can publish a fairly big number of games in parallel. With our combined internal and external publishing pipeline, we're now one of Europe's largest game publishers. I was thinking about this correlation at some point early this year. When we started developing games, it was one game at a time. Money was always short, and publishing other people's games was never an option. We started having more money and got better connections, and so we started publishing, and that way we could triple our output. In development, we're very hands-on and create a smaller number of titles, while in publishing, we invest money as well as time so that we can release more great titles. Well, what if we added a third division next to these two, one that could be even more hands-off, where we would more or less only invest money in game projects? Ideally, that should vastly increase our number of titles going forward. I knew Callum from before, and this spring, Callum and I started talking about it. It turned out that we had the same idea, which made our discussions all the more exciting, and that's what we're doing now. We're adding a third box next to the existing two. We've decided to call this new division Thunderful Investment, and Robot Teddy will be at the heart of it. Thunderful Investment has created two new funds to bridge gaps where there's currently a lack of options in the industry. As well as managing these funds, Robot Teddy will continue to offer support to developers who want to self-publish. The first of the new Thunderful Investment funds will be for game prototypes and vertical slices. The lack of prototype funding is a huge problem in a games industry that currently favors those that already have substantial financial reserves. This fund aims to unleash the creativity of independent creators. The second fund will support the development of VR games, a booming sector that is rife with opportunity when it comes to self-publishing. Today, it's hard to find funding for VR projects, and up until now, it's been focused on a small number of publishers and investments. To recap, Robot Teddy brings years of experience and success working in self-publishing, funding, scouting, and business development. They've also brought numerous indie and VR projects to fruition, which makes Robot Teddy perfectly placed to carry out the exciting new investment funds for prototypes and VR projects. Robot Teddy will continue to be headed by founder Callum Underwood, and they'll continue to work with its existing clients and partners. With the support of Thunderful, Robot Teddy will be able to leverage their talent in these areas more effectively than before. Yes, I'm very excited about this. Callum and his team are great people and great professionals, and I'm convinced we're getting one of the best, if not the best, partner in the industry to head up the operations for Thunderful Investment. They'll also continue to do outstanding business development work for some of the coolest game development studios in the world. Yeah, I'm definitely excited.