The Stockholm-based Stillfront Group AB is acquiring Goodgame Studios, a press release said Friday. As part of the transaction, the current shareholders of Goodgame Studios will receive about 40 per cent of the shares and voting rights of the combined company. Dr. Kai and Dr. Christian Wawrzinek, founders and managing directors of Goodgame Studios, will become the major shareholders of the Stillfront Group and will remain managing directors of Goodgame Studios. Their company has been valued at EUR 270 million for the transaction.
Dr. Christian Wawrzinek is proposed as new member of the Stillfront Board of Directors. He remarked: “We are very proud to announce the merger of Goodgame Studios with Stillfront Group, which is listed on the Nasdaq First North Premier stock exchange. Once the transaction is approved by the Stillfront Group’s shareholder meeting in January 2018, Goodgame Studios can be publicly traded indirectly for the first time.”
No personnel changes planned
Goodgame made headlines in recent years with huge staff cutbacks. The company is now aiming for more stability. “No personnel changes are planned at Goodgame Studios. The subsidiaries of the Stillfront Group are run autonomously and Goodgame Studios will also remain as it is today,” a press release said. Strong synergies are expected in terms of know-how level.
Founded in 2009, Goodgame Studios has become a major player on the German and international market with games liked “Big Farm” and “Empire: Four Kingdoms”. In October 2017, Goodgame Studios cracked the all-time turnover (User Spend) ceiling of USD 1 billion. The company has been boosted by the launch of its new, hit game, Big Farm: Mobile Harvest, and notched up 2 million registrations in just four weeks. pb