Stillfront Group to buy Storm8 mobile Studio for $400 million
The Swedish Stillfront Group will replenish the portfolio again. Her choice fell on the mobile developer Storm8.
Property Brothers Home Design
The deal between the companies will cost $400 million.
It is expected that on February 28, the publisher will buy 100% of the shares of the California studio for $ 300 million. Then, during 2020-2021, he will pay the seller another $ 100 million.
The acquisition will give Stillfront access to a new target audience for mobile players — women aged 25 to 45 years. This is reported by Gamesindustry.biz .
Storm8 started developing casual games for iOS and Android in 2009. Soon it became one of the ten largest mobile publishers in terms of revenue — without investors and IPO. The developer has released a number of projects on IP TeamLava, Dragon Story and others, which by 2015 had accumulated a total of 1 billion installations.
Then the company didn’t have any notable releases for a while. In addition, in 2017, she laid off more than half of her staff – 130 people. However, last year she released Property Brothers Home Design. Installations of the game in December reached 2 million on Android and iOS, according to Sensor Tower.
Stillfront Group has been actively buying up gaming companies in recent years. Among its recent acquisitions are Kixeye and all its IP, Goodgame Studio and the authors of Unravel — Coldwood Interactive.
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