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Frontier Gains Elite Rights; Braben to Sell Frontier Stock

Develop has news that Frontier Developments acquired software and IT consultancy Professional Practice Automation on Tuesday in a deal worth 5.09m, a deal which, besides the other assets of the company, also includes the rights to the Elite franchise, as Frontier is currently developing Elite Dangerous, a crowd-funded new installment in the space combat series. They also report that Frontier founder David Braben now plans to sell up to 1.6m shares in Frontier Developments, which they say represents a little over five percent of the company. Besides holding the Elite rights, Develop says PPA develops software "currently in use on thousands of seats across accountancy practices in the UK."

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11. Re: Frontier Gains Elite Rights; Braben to Sell Frontier Stock Apr 17, 2014, 12:50 The Half Elf
 
Ok I have a question: 1.6 million shares at 260 bucks a stock...(roughly the market value of the stock) is roughly 390 million right? Am I missing something or could he have payed for the development right out of his own pocket?

Again if I'm missing something please let me know.
 
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10. Re: Frontier Gains Elite Rights; Braben to Sell Frontier Stock Apr 17, 2014, 12:49 Wildone
 
Yea the 1st videos from ED where far from impressive, while SC's where like WOA!! Now its all flipped lol ED FTW..  
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9. Re: Frontier Gains Elite Rights; Braben to Sell Frontier Stock Apr 17, 2014, 11:47 loomy
 
He got rich and wanted his game back. The rights holder may have tried to squeeze him too.

Either way, hostile takeover. David Braben does seem cut throat and spiteful to me. He got his wish thanks to the backers. And his good work!
 
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8. Re: Frontier Gains Elite Rights; Braben to Sell Frontier Stock Apr 17, 2014, 11:46 Eirikrautha
 
Creston wrote on Apr 17, 2014, 11:05:
If he didn't have the rights, how could he have been calling his game Elite:Dangerous all this time?

Even more surprising is that those rights were held by a freaking IT consultancy firm...

Anyway, good for him. He finally seems to have everything together to make another kick-ass Elite game, and I can't wait for it despite my initial skepticism.


Yeah, it's funny how I couldn't wait to kickstart Chris Roberts and then rolled my eyes when I heard Braben was doing Elite (again). Now my reactions are just about the opposite...
 
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7. Re: Frontier Gains Elite Rights; Braben to Sell Frontier Stock Apr 17, 2014, 11:05 Creston
 
If he didn't have the rights, how could he have been calling his game Elite:Dangerous all this time?

Even more surprising is that those rights were held by a freaking IT consultancy firm...

Anyway, good for him. He finally seems to have everything together to make another kick-ass Elite game, and I can't wait for it despite my initial skepticism.

 
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6. Re: Frontier Gains Elite Rights; Braben to Sell Frontier Stock Apr 17, 2014, 10:48 djinn
 
Cutter wrote on Apr 17, 2014, 09:42:
The name doesn't have that much cache.

http://www.tubechop.com/watch/2558713
 
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5. Re: Frontier Gains Elite Rights; Braben to Sell Frontier Stock Apr 17, 2014, 10:24 Sho
 
Cutter wrote on Apr 17, 2014, 09:42:
The name doesn't have that much cache. Wasting what? 8 million US to secure the rights to Elite instead of simply renaming it?

Aside from the fact that "Elite" does have massive cachet as a name, you can read in the text up there that they didn't just acquire Elite, and plan to make the money back by selling shares.

Braben is a very business-savvy guy, so I'm sure this wasn't done willy-nilly.
 
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4. Re: Frontier Gains Elite Rights; Braben to Sell Frontier Stock Apr 17, 2014, 09:42 Cutter
 
The name doesn't have that much cache. Wasting what? 8 million US to secure the rights to Elite instead of simply renaming it? And where the hell did they get the money for this? See, it's exactly this sort of shit that makes me want to stay well the hell away from crowd-funding.

 
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3. Re: Frontier Gains Elite Rights; Braben to Sell Frontier Stock Apr 17, 2014, 09:33 InBlack
 
Jivaro wrote on Apr 17, 2014, 09:20:
I don't know about the shares bit, out of my wheelhouse, but the acquisition of the rights to the Elite franchise is great news for this project.

Hang on, how did they end up making a game called Elite, without first securing the rights for the name?? Isnt this happening assbackwards?? Can someone clarify?
 
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2. Re: Frontier Gains Elite Rights; Braben to Sell Frontier Stock Apr 17, 2014, 09:28 Parallax Abstraction
 
How did the Elite rights end up at an IT provider?! Wow, there's a weird story behind that, especially since Frontier made the original Elite didn't it?  
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1. Re: Frontier Gains Elite Rights; Braben to Sell Frontier Stock Apr 17, 2014, 09:20 Jivaro
 
I don't know about the shares bit, out of my wheelhouse, but the acquisition of the rights to the Elite franchise is great news for this project.  
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