? Acquisition
Sweden-based game developer, publisher, and distributor Thunderful Group has acquired 100% of the UK-based PC, console and VR games developer Coatsink for a total consideration of up to ~$85m
The sum is going to be paid in the form of:
an up-front consideration of about $30m with a half to be paid in cash and the other half in newly issued ordinary shares
an earn-out consideration of $55m to be paid in a mix of cash and Thunderful shares, if Coatsink exceeds its undisclosed financial targets for 2021 and 2022
Coatsink will remain an independent studio under the Thunderful umbrella after the deal closure, with the company’s co-founders and key employees becoming Thunderful shareholders
The acquisition will help both companies to accelerate their development capabilities and reinforce the position on the gaming market, which also goes in line with Thunderful strategy to expand its game segment through attractive deals and partnerships
? Thunderful Group’s Latest Acquisitions
In February 2020, Thunderful Group acquired Sweden-based PC game developer Guru Games for an undisclosed sum
In July 2018, the company acquired UK-based PC&console game publisher Rising Star Games, the terms of the deal were not disclosed
? Products
Coatsink is a UK-based multiplatform game developer and publisher with a slight focus on VR development
The company has worked on more than 20 titles, including:
Shu, Shadow Point, A Night Sky, Esper, Chip, They Suspect Nothing and Augmented Empire — as a developer
Cake Bash, Get Packed, PHOGS! and Onward — as a publisher
supported such renown indie games like Kingdom: New Lands, Gang Beasts, Dandara and Bad North
Currently, Coatsink is working on two titles, based on famous external franchises: Transformers: Battlegrounds and Jurassic World Aftermath for Oculus Quest.
There are three more unannounced in-house games and several work-for-hire and publishing projects that should be released in 2021 and 2022
SOURCES: THUNDERFULGROUP, GAMESINDUSTRY, GAMASUTRA, POCKкETGAMER
