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Cloud Imperium & Turbulent Extend Their Long-Running Partnership Through Mutual Investment

Today, Cloud Imperium Games and Turbulent announced they have extended their partnership through mutual investment. Cloud Imperium UK Ltd. has purchased 22,250 shares of Turbulent stock directly from Turbulent co-founders Marc Beaudet and Benoit Beausejour, making Cloud Imperium UK a 25% shareholder, and acquired two seats on the Turbulent board.

Turbulent founders Marc Beaudet and Benoit Beauséjour each acquired 1,170 shares in CI UK Ltd. at an unchanged valuation from last year’s minority investment in Cloud Imperium by Clive Calder’s Family Office and Keith Calder’s Snoot entertainment, thereby increasing the total number of shares issued by CI UK Ltd. to 1,116,201.

“Cloud Imperium UK’s share acquisition expands and formalizes the long-running partnership between Cloud Imperium and Turbulent, who has been instrumental in assisting in the creation of Star Citizen’s online and publishing platform throughout the 7+ year relationship between the two companies,” said Ortwin Freyermuth, co-founder, vice-chairman, and general counsel of Cloud Imperium Games. “Over the years, our partnership has grown to encompass not just the development of out-of-game components for CIG’s online platform, but also integrated game services such as the player communication tool, Spectrum, FOIP/VOIP (Face Over Internet Protocol and Voice Over Internet Protocol) and other in-game services. We look forward to continuing and expanding our work with Turbulent in the years to come.”

"Since 2012, CIG had been a key partner in the growth of our company and in the creation and development of a center of expertise and technologies for community marketing crafted specifically for the video game industry,” said Marc Beaudet, CEO, Turbulent. “This agreement is the natural evolution of a partnership that linked the two companies well beyond a commercial relationship. We are very happy to welcome them among our shareholders and to become ourselves shareholders of their company.”

About Cloud Imperium Games and Roberts Space Industries®

Cloud Imperium is a new kind of independent studio dedicated to delivering AAA games outside the established publisher system. Founded in 2012 by renowned visionary game developer Chris Roberts (Wing Commander series, Freelancer, Privateer), Sandi Gardiner, and international media lawyer and producer Ortwin Freyermuth (Carlito’s Way, Shattered, Das Boot - Director’s Cut), with industry veteran and studio director Erin Roberts (Lego videogame series, Starlancer, Privateer) joining the team in 2013. Cloud Imperium is creating Star Citizen, a record-shattering largely crowdfunded space sim, and Squadron 42, a Hollywood-caliber story-driven single-player game set in the same universe. Cloud Imperium operates in “open development” – sharing progress and updates with our backers in near real time. This paradigm-shifting development process (game development usually occurs behind closed doors) means players know the ins and outs of Star Citizen and Squadron 42’s development, interact with and give feedback to our developers, and ensures that we are making the games they want to play.

About Turbulent

Turbulent helps ambitious companies unlock the potential of their audience. Through an approach that is fun and transparent, we co-create improbable impact. Immersing ourselves in the business of our client we deliver strategic guidance and craft custom technology that increases revenue, improves processes and enriches user experience.

Contact for Turbulent:

Marie Létourneau Communications

marie@marieletourneau.ca

(1) 514-616-3549

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