THQ Nordic acquires Germany-based HandyGames for EUR 1M.

Sweden M&A 10 July 2018
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THQ Nordic, a Vienna, Austria-headquartered Swedish gaming company, announced the acquisition of developer HandyGames, headquartered in Giebelstadt, Germany.

At the same time, THQ has acquired all IPs and Franchises, like Townsmen or Clouds and Sheep among others. The management team, all employees, as well as the location will be preserved.

The transaction was made for EUR 1M ($1.17M) and includes an additional EUR 1.5M earnout.

Handygames, founded in 2000 and led by siblings Markus Kassulke and Christopher Kassulke, has released over 150 games on a variety of platforms, but has made a name in games for mobile phones.

THQ Nordic is a publicly listed game publisher from Sweden, founded by Lars Wingefors, who is also its major investor. The company acquires, develops and publishes PC and console games.

This is THQ's second big purchase in 2018, having purchased Koch Media for $150M in February 2018,