Thunderful acquires Bridge Constructor writer Headup in €11m deal

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Thunderful Group has acquired Germany-based developer and writer Headup.

The Nordic group can pay €5 million in money up entrance, with earnouts of as much as €6 million to comply with primarily based on Headup’s efficiency for the subsequent three years.

€2.5 million of the earnout consideration might be newly issued shares in Thunderful, with the opposite €3.5 million comprised of a mixture of money and shares.

The acquisition is predicted to be accomplished by March 31. The corporate will proceed to function as an unbiased writer and developer.

Based in 2009, Headup is greatest recognized for the number of video games it has printed, together with the Bridge Constructor sequence, journey sport Trüberbrook, and Epic MegaGrant-funded motion sport Pumpkin Jack.

All 14 staff might be retained, with Headup CEO Dieter Schoeller taking up a brand new function as head of publishing at Thunderful Video games, dealing with publishing operations in Sweden and Germany.

Along with the publishing and manufacturing initiatives it’s already engaged on, Headup is presently creating an unannounced sport primarily based on a “world-renowned IP.”

Authorized advisors on the deal have been Setterwalls Advokatbyrå and German legislation agency Fieldfisher, with EY advising on monetary and tax due diligence.

That is the fourth acquisition for Thunderful in simply over a 12 months.

The corporate took over Swedish studio Guru Video games again in January 2020, adopted by UK studio Coatsink Software program in October and Swedish developer Station Interactive in November.

Thunderful Group adopted these acquisitions with plans for an IPO.

In December, we spoke to CEO Brjann Sigurgeirsson about each the IPO and its ongoing acquisition technique.

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