My.Games has acquired a controlling stake in Russian mobile game studio Deus Craft in a deal worth up to $49.1 million.
The deal will see My.Games, which is the video game division of Russian company Mail.Ru, purchase 51.1 percent of Deus Craft for an upfront payment of $14.1 million and a deferred payment of up to $35 million payable in April 2021.
Deus Craft has offices in Moscow, Saint Petersburg, and Novosibirsk, and has worked on over 40 titles including its current flagship release Grand Hotel Mania. The hotel sim launched in July 2020, and quickly became the second highest grossing management title on both iOS and Android.
The company is currently working on two more mobile titles that are expected to launch within the next 12 months, and will retain its current management structure post-acquisition.
Commenting on the deal, My.Games chief exec Vasiliy Maguryan said the move will help consolidate its position in the mobile market.
"By becoming part of the My.Games ecosystem, studios can scale their business multifold and use all the advantages of an open partner environment for sharing experience," he said in a press release. "We are confident that the Deus Craft team will help us further strengthen our expertise in the mobile segment, especially in the new time management genre."
The purchase is expected to close in October 2020, with consolidation into Mail.Ru's management accounts as of Q3 2020 reporting.