SOURCE: HC2 Holdings, Inc.

HC2 Holdings, Inc.

January 15, 2015 08:00 ET

HC2's Subsidiary DMi, Inc. Acquires Exclusive NASCAR Gaming Rights With Multi-Year Agreement

DMi, Based in Charlotte, Will Release NASCAR Titles Across Multiple Platforms, "Next Generation" Consoles

HERNDON, VA--(Marketwired - Jan 15, 2015) -  HC2 Holdings, Inc. ("HC2") (NYSE MKT: HCHC) today announced that its subsidiary, DMi, Inc., has acquired certain NASCAR-related assets from Eutechnyx and partnered with NASCAR Team Properties to acquire certain exclusive licensing rights as part of a multi-year agreement. DMi will publish a robust set of high quality NASCAR games for video game consoles, personal computers, tablets and smart phones, beginning in 2015.

DMi will be headquartered in Charlotte, N.C., a region that is home to NASCAR corporate offices and most of the sport's race teams.

"We are thrilled to be working with NASCAR Team Properties in building a fast growing world class interactive game publisher. We have the right team in place to partner with NASCAR Team Properties to build and grow the NASCAR digital games business," said Philip Falcone, HC2 Chairman, President and CEO. "We are NASCAR fans, first and foremost, and look forward to growing NASCAR's digital gaming business through quality and innovation."

DMi plans to expand the NASCAR game product offering for fans, and will publish annual title releases including on "next generation" consoles like PlayStation 4 and Xbox One.

"We share a strategic vision with DMi to broaden NASCAR Interactive Entertainment and deliver a first-class gaming experience to our fans, who are deeply passionate about NASCAR games," said Blake Davidson, NASCAR Vice President, Licensing and Consumer Products. "Establishing the company in Charlotte, a central location for the NASCAR industry, will only strengthen this great partnership."

According to Experian Marketing Services (Simmons National Consumer Survey, Fall Full Year 2013), NASCAR fans are twice as likely as non-fans to play racing themed video games.

Eutechnyx will continue to operate its other businesses including ACR and the Zero Light development business out of its Newcastle, UK studio.

To learn more about DMi, visit www.dmigames.com.

Cautionary Statement Regarding Forward-Looking Statements
Safe Harbor's Statement Under the Private Securities Litigation Reform Act of 1995: This release contains, and certain oral statements made by our representatives from time to time may contain, forward-looking statements. Generally, forward-looking statements include information describing the offering and other actions, events, results, strategies and expectations and are generally identifiable by use of the words "believes," "expects," "intends," "anticipates," "plans," "seeks," "estimates," "projects," "may," "will,'" '"could," "might," or "continues" or similar expressions. These statements are based on the beliefs and assumptions of HC2's management and the management of HC2's subsidiaries. Factors that could cause actual results, events and developments to differ include, without limitation, capital market conditions, the ability of HC2's subsidiaries to generate sufficient net income and cash flows to make upstream cash distributions, trading characteristics of the HC2 common stock, the ability of HC2 and its subsidiaries to identify any suitable future acquisition opportunities, efficiencies/cost avoidance, cost savings, income and margins, growth, economies of scale, combined operations, future economic performance, conditions to, and the timetable for, completing the integration of financial reporting of acquired or target businesses, completing future acquisitions and dispositions, litigation, potential and contingent liabilities, management's plans, changes in regulations, taxes and the risks that may affect the performance of the operating subsidiaries of HC2 and those factors listed under the caption "Risk Factors" in HC2's most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, filed with the Securities and Exchange Commission. All forward-looking statements described herein are qualified by these cautionary statements and there can be no assurance that the actual results, events or developments referenced herein will occur or be realized. HC2 does not undertake any obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operation results.

About HC2
HC2 Holdings, Inc. is a publicly traded (NYSE MKT: HCHC), diversified holding company, which seeks to acquire and grow attractive businesses that generate sustainable free cash flow. HC2 has a diverse array of operating subsidiaries, each with its own dedicated management team, across a broad set of industries, including, but not limited to, telecom/infrastructure, large-scale U.S. construction, energy, and life sciences. HC2 seeks opportunities that generate attractive returns and significant cash flow in order to maximize value for all stakeholders. Currently, HC2's largest operating subsidiaries are Schuff International, Inc., a leading structural steel fabricator in the United States, and Global Marine Systems Limited, a global offshore engineering company focused on subsea cable installation and maintenance. Founded in 1994, HC2 is headquartered in Herndon, Virginia.

About NASCAR
The National Association for Stock Car Auto Racing, Inc. (NASCAR) is the sanctioning body for the No. 1 form of motorsports in the United States. NASCAR consists of three national series (the NASCAR Sprint Cup Series, NASCAR XFINITY Series, and NASCAR Camping World Truck Series), four regional series, one local grassroots series and three international series. The International Motor Sports Association (IMSA) governs the TUDOR United SportsCar Championship, the premier U.S. sports car series. Based in Daytona Beach, Fla., with offices in eight cities across North America, NASCAR sanctions more than 1,200 races in more than 30 U.S. states, Canada, Mexico and Europe. For more information, visit https://www.nascar.com and follow NASCAR at http://www.facebook.com/NASCAR and Twitter: @NASCAR.

About Eutechnyx
Eutechnyx is the world's leading independent racing game developer. With a history spanning over 28 years, the studio has won numerous awards for its multi-million selling titles and garnered exceptional acclaim in the business sector. Eutechnyx has studios in the UK & China. For more information, visit www.eutechnyx.com.

Contact Information

  • For more information onHC2 Holdings, Inc., please contact:
    ir@HC2.com

    For more information onDMi, Inc., please contact:
    Tom Dusenberry
    DMi, Inc.
    978-828-7825
    tomdusenberry@dmigames.com