Stillfront acquires Germany’s Playa Games for €45M.

Stillfront Group AB, a Stockholm, Sweden-based gaming holding announced that it acquired the game developer and publisher Playa Games, based in Hamburg, Germany.

The transaction involves the acquisition of 100% of the shares in Playa Games and is made of EUR 20M in cash and stock and a EUR 25M earnout subject to the 2019 and 2020 EBIT. Completion of the acquisition is expected to occur mid December 2018.

Playa Games, founded in 2009 by Jan Beuck and Martin Jässing, is one of Germany's leading casual strategy game developer and publishers with five released games and approx. 70 million registered players. The Company's flagship title is Shakes & Fidget, a cartoon style massive multiplayer online role-playing game (MMORPG) strategy game published on both browser and mobile platforms.  The company generated net revenue of approximately EUR 7.7M, with approx. 55% in EBIT margin for the period January-September 2018.

Stillfront, led by CEO Jörgen Larsson, is a group of independent creators, publishers and distributors of digital games - with a vision to become the leading group of indie game creators and publishers. Stillfront operates through ten near-autonomous subsidiaries: Bytro Labs in Germany, Coldwood Interactive in Sweden, Power Challenge in the UK and Sweden, Dorado Online Games in Malta, Simutronics in the United States, Babil Games in UAE and Jordan, eRepublik in Ireland and Romania, OFM Studios in Germany, Goodgame Studios in Germany and Imperia Online, Bulgaria. Stillfront's games are distributed globally.