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MAG Interactive Acquires Sventertainment AB For Up To $11.6m

M&A | ANNOUNCEMENT DATE: 28 AUG 2020
WRITTEN BY | 30 Aug 2020
MAG Interactive Acquires Sventertainment AB For Up To $11.6m
M&A

💵 Acquisition

  • 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

  • The purchase price will be fully paid in cash and consists of

    • $2.3m upfront consideration

    • up to $9.3m earnout consideration — the final sum depends on the profit targets set for Sventertainment AB over the next three years

  • 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

  • Over H1 2020, Sventertainment showed Revenue of ~$1m (+57% increase to H1 2019) with $150k EBT

💵 Previous Acquisitions

  • In October 2017, MAG Interactive has acquired Swedish mobile game developer FEO Media

  • In June 2015, MAG Interactive has acquired Brighton-based mobile game developer Delinquent

  • In 2014, MAG has acquired a word game WordBrain, which was released for for iOS, Android, Windows phone

🎲 Products

  • Sventertainment AB is a mobile developer behind Primetime — trivia games app, that allows players to compete with each other, playing quiz and words games

  • First launched in Sweden in 2018, Primetime has successfully released in Norway, Denmark and Finland

  • 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

  • Primetime has 100,000 DAU of organic user base

MAG Interactive acquires Sventertainment AB

 

SOURCES: CISION, POCKETGAMER

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Sventertainment AB 
  • Established in  2018

  • Headquarters — Stockholm, Sweden

  • Founded by Daniel Weilar

  • Mobile developer of trivia-based games and apps

MAG Interactive
  • Established in 2010

  • Headquarters — Stockholm, Sweden

  • Founded by Daniel Hasselberg, Roger Skagervall, Kaj Nygren, Johan Persson, Fredrik Stenh and Anders Larsson

  • Team of 85 employees (as of May 2020)

  • Mobile game developer and publisher

  • Latest interim report