Nordisk Film announces the full acquisition of Avalanche Studios for EUR 117M..
Nordisk Film will acquire all shares and take full ownership a year after it acquired a minority ownership share in Avalanche Studios, which will now be complemented by a EUR 89M ($103M) acquisition of the remaining shares.
The transaction now puts a valuation of EUR 117M for Avalanche Studios.
Avalanche Studios, founded in 2003 by Christofer Sundberg and Linus Blomberg, develops games for PCs and the consoles market. The company has also an office in New York and employs about 270 employees. Just last week, a third studio, located in Malmö, Sweden, was announced.
Under Nordisk Film’s ownership, Avalanche Studios will continue as a creatively independent game studio, developing its own IP’s, as well as catering to third-party publishers and license holders. Following the deal, co-founders Christofer Sundberg and Linus Blomberg will remain at Avalanche Studios, focusing on the creative and technical aspects of its games development. The management team, with CEO Pim Holfve at the helm, will also continue unchanged.