? Acquisition
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Stockholm-based mobile game developer and publisher MAG Interactive (FRA: MHK) has entered into an agreement to acquire Stockholm-based developer of mobile trivia games Sventertainment AB for up to $11.6m
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The purchase price will be fully paid in cash and consists of
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$2.3m upfront consideration
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up to $9.3m earnout consideration — the final sum depends on the profit targets set for Sventertainment AB over the next three years
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The acquisition of Sventertainment’s trivia games app Primetime perfectly fits MAG portfolio of puzzle and words games, such as Ruzzle, Word domination, Wordbrain, Puzzle adventure and others
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Over H1 2020, Sventertainment showed Revenue of ~$1m (+57% increase to H1 2019) with $150k EBT
? Previous Acquisitions
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In October 2017, MAG Interactive has acquired Swedish mobile game developer FEO Media
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In June 2015, MAG Interactive has acquired Brighton-based mobile game developer Delinquent
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In 2014, MAG has acquired a word game WordBrain, which was released for for iOS, Android, Windows phone
? Products
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Sventertainment AB is a mobile developer behind Primetime — trivia games app, that allows players to compete with each other, playing quiz and words games
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First launched in Sweden in 2018, Primetime has successfully released in Norway, Denmark and Finland
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The game has been downloaded about 2 million times on App Store and Google play, with a peak of about 170 thousand downloads in April 2019. Recently, the game has seen a stable decrease in downloads
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Primetime has 100,000 DAU of organic user base
SOURCES: CISION, POCKETGAMER