MTG: Ninja Kiwi deal fuels shares

Modern Times MTG AB

25/03/2021 09:58

** Shares in MTG  MTGb.ST  jump 8% after the Swedish
e-sports and gaming group announced on Wednesday after market
close acquisition of Ninja Kiwi, a New Zealand based mobile game
developer  urn:newsml:reuters.com:*:nL1N2LM2AS
    ** The company said it will pay an upfront consideration of
SEK 1.2 billion ($139.07 million) with an earnout of SEK 406 mln
    ** Citi sees the deal as "meaningful" and believes the
acquisition should not only be positive for consensus earnings,
but also further diversify the group's portfolio of mobile
gaming assets
    ** It adds that in its view with the transaction a
"flywheel" of organic growth complemented by M&A in gaming is
beginning to get momentum
    ** MTG stock is poised for its best day in three months


    ($1 = 8.6288 Swedish crowns)

 ((Aleksandra.Majewska@thomsonreuters.com))