Stillfront has acquired the mobile developer Nanobit in a $100 million deal, though the acquisition could set Stillfront back as much as $148 million if certain sales targets are met.
The initial leg of the deal sees Stillfront shelling out $100 million for 78 percent of Nanobit’s shares, with the remaining shares up for grabs in 2023 for an additional $48 million pending those sales targets. In both cases, the amount Stillfront will pay is split between 70 percent cash and 30 percent shares.
Nanobit itself is a studio of 125 devs based out of Croatia, and boasts a library of 29 total games and apps with 145 million lifetime downloads. In a statement, Stillfront CEO Jorgen Larsson says the deal allows the company to expand its narrative and lifestyle RPG repertoire, while strengthening other genres where it already has an established presence.
“Nanobit is an experienced and reputable studio with numerous apps and games with a clear niche within the lifestyle genre,” says Larsson. “The games portfolio has shown strong growth during the last year and we see a strong growth potential going forward, including a promising pipeline of new games.”