Thunderful Group is changing its strategy. It will focus on game development and publishing
The Swedish holding company Thunderful Group is divesting its business related to game distribution. The company announced the sale of AMO Toys, Bergsala Aktiebolag, Thunderful 1, and Thunderful Solutions.
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The buyer will be Bergsala, owned by Thunderful Group's largest shareholder and board member Owe Bergsten. The total payment will be 634 million Swedish krona or 59.46 million dollars.
The deal is expected to close on June 28, 2024.
Thunderful Group explained that selling its distribution subsidiaries will strengthen the holding's financial position, which has significantly deteriorated recently. Moreover, Thunderful Group will now be able to focus more on game development. After the deal is completed, its activities will be divided into three business segments: proprietary game development, co-development of games with partners, and game publishing.
