Stillfront Group is looking to acquire _Dragon Story _developer Storm8 for $300 million, with an additional $100 million on the table if unmentioned targets are met in the 2020 and 2021 financial yeas as well.
Stillfront Group is looking to acquire Dragon Story developer Storm8 for $300 million, with an additional $100 million on the table if undisclosed targets are met in the 2020 and 2021 financial years as well.
In the eyes of Stillfront CEO Jörgen Larsson, the acquisition serves to help Stillfront reach beyond its usual audience and genre, given Storm8’s casual and puzzle game experience.
“The combination of our product portfolios and audiences transforms Stillfront´s position in the global games market, almost tripling our monthly and daily active users. The effects of this deal contribute to Stillfront's long term strategy and strengthen the financial position of Stillfront,” says a statement from Larsson.
The deal sees Stillfront picking up 100 percent of the shares in Storm8, a transaction made possible in part through a new loan from Nordea Bank. The acquisition itself is only waiting on approval, and is expected to close by the end of February.
It's the latest of many sizable acquisitions Stillfront has made in recent memory, including last summer’s $90 million acquisition of War Commander dev Kixeye and the $11.7 million acquisition of Imperia Online from the year before.
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