? 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
SOURCES: CISION, POCKETGAMER


