Stillfront purchases eRepublik Labs

Stillfront Group AB, a Stockholm, Sweden-based gaming company, announced its acquisition of 100% of the shares in eRepublik Labs. Limited from Alexis Bonte, Gergat Trading Limited (owned by Alain Bonte), funds managed by IDinvest Partners SA and a number of minority shareholders.

The value of the transaction is EUR 7,500,000, of which EUR 4,050,000 is payable in cash and the remaining EUR 3,450,000 is payable in newly issued shares in Stillfront.

eRepublik, based in Dublin, Ireland, and Bucharest, Romania was co-founded in 2007 by Alexis Bonte (CEO) and George Lemnaru. The company develops and publishes the game 'eRepublik.com', a browser based free-to-play strategy game launched in 2008. The Group also develops and publishes the games 'Age of Lords' (launched in 2015) which is a mobile game in the MMORPG-genre and 'World at War: WW2 Strategy MMO', a mobile strategy game which has experienced strong growth since its launch in October 2016.

eRepublik has 34 staff and had revenue in excess of MEUR 2.5 in 2016 and MEUR 0.9 during the period January 2017 - March 2017, with approx. 20% operating margin.