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MTG acquires UK mobile studio Hutch Games for initial $275 million

Esports and video game investment company MTG has acquired British mobile developer Hutch Games for $275 million upfront.

Chris Kerr, News Editor

December 9, 2020

1 Min Read

Esports and video game investment company MTG has acquired British mobile developer Hutch Games for $275 million upfront and an additional $100 million in potential earn-out payments. 

Hutch is known for developing and publishing free-to-play racing games including F1 Manager and Rebel Racing. Its portfolio includes 13 titles that have amassed over 300 million downloads to date, and MTG said the acquisition is a "positive step in its buy-and-build growth strategy." 

"MTG sees continued strong growth opportunities through Hutch’s three key titles F1 Manager, Top Drives and Rebel Racing, which are all still in an early growth phase with considerable future potential," explained the company in a press release. 

"Additionally, Hutch has a promising pipeline of new games with titles planned for launch in 2021 and 2022. The acquisition of Hutch adds an attractive portfolio of games and knowledge to MTG’s other gaming companies and contributes to MTG’s overall strategy of continued growth through both strategic acquisitions and organic initiatives. 

The purchase is also the first deal under MTG's newly formed investment holding company, Gaming Co, which was formed earlier this month with the help of Hamburg-based developer InnoGames. 

About the Author(s)

Chris Kerr

News Editor, GameDeveloper.com

Game Developer news editor Chris Kerr is an award-winning journalist and reporter with over a decade of experience in the game industry. His byline has appeared in notable print and digital publications including Edge, Stuff, Wireframe, International Business Times, and PocketGamer.biz. Throughout his career, Chris has covered major industry events including GDC, PAX Australia, Gamescom, Paris Games Week, and Develop Brighton. He has featured on the judging panel at The Develop Star Awards on multiple occasions and appeared on BBC Radio 5 Live to discuss breaking news.

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