Brief: Mtg Acquires Snowprint Studios

Modern Times MTG AB

05/10/2023 12:11

Oct 5 (Reuters) - Modern Times Group MTG AB  MTGb.ST :
    * MTG ACQUIRES SNOWPRINT STUDIOS, STUDIO BEHIND NEW MOBILE
HIT
WARHAMMER 40,000: TACTICUS
    * IT HAS ACQUIRED A 70% MAJORITY STAKE IN SWEDISH MOBILE
GAME
DEVELOPMENT STUDIO SNOWPRINT STUDIOS
    * DEAL IS MADE ON A CASH AND DEBT FREE BASIS, FOR A CASH
CONSIDERATION WHICH WILL REFLECT AN 1.8X MULTIPLE OF 2023
REVENUES FOR WARHAMMER 40,000: TACTICUS
    * SNOWPRINT IS EXPECTED TO GENERATE BETWEEN 30 TO 35M USD IN
REVENUES FOR FULL YEAR 2023, WHICH REFLECTS AN ATTRACTIVE GROWTH
RATE OF +150% YOY
    * EXPECT SNOWPRINT TO CONTINUE DRIVING GROWTH BY LAUNCHING
NEW
GAMES IN FUTURE

Source text for Eikon:  ID:nWkr563jBb 
Further company coverage:  MTGb.ST 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))