MechWarrior developer Piranha Games has been acquired by Enad Global 7 (EG7) for an initial SEK 207 million ($24.2 million).
The deal will see EG7 hand over SEK 138.9 million ($16.2 million) in cash and SEK 68.9 million ($8 million) in newly issued shares. An earn-out consideration could also result in the company paying out an extra CAD 63.4 million ($63.4 million) if Piranha meets certain financial performance targets.
For those unfamiliar with either name, EG7 is a Swedish video game cooprative that develops, markets, publishes, and distributes PC, console, and mobile titles around the world. It's the parent company of publisher and distributor Sold Out, and also owns a number of studios including Antimatter Games and Toadman Studios.
Piranha, meanwhile, is based in Canada and is the developer behind MechWarrior Online and MechWarrior 5: Mercenaries. It has previously worked on other franchises including Medal of Honor and Need for Speed, creating handheld entries for both series for the PSP.
EG7 explained that Piranha will continue to operate as an independent studio moving forward, and will "significantly strengthen" its development capacity in Canada. The company added that it will collaborate with Piranha on "future joint projects" that combine the studio's knowledge of PC and console game development with its own publishing and marketing expertise. It also views the MechWarrior franchise as a key asset.