Sponsored By

Nordisk Film has invested SEK 45 million ($4.5 million) into Finnish mobile studio Nitro Games to become the company's largest shareholder.

Chris Kerr, News Editor

April 15, 2020

1 Min Read

Nordisk Film has invested SEK 45 million ($4.5 million) into Finnish mobile studio Nitro Games to become the company's largest shareholder. 

The Nordic investor and Nitro agreed on a funding package consisting of a directed new issue of 3.33 million shares as a price of SEK 7.5 ($0.75) per share, which is expected to raise SEK 25 million ($2.5 million) before issue costs, an a convertible loan agreement worth SEK 20 million ($2 million). 

Nitro will use the cash to develop expand its portfolio of shooters, which includes competitive 3v3 hero shooter Heroes of Warland and casual co-op shooter Lootland

"We are proud to welcome Nordisk Film Games to join Nitro Games as a leading shareholder. They support our vision of Nitro Games becoming a household name in the category of shooter games on mobile," said Nitro co-founder and CEO, Jussi Tähtinen, in a statement.

"This funding package strengthens our abilities in successfully executing our strategy and building shareholder value. I am looking forward to a successful long-term partnership."

The deal is the latest in a long line of investments and acquisitions for Nordisk Film, which over the past few years has sunk cash into indie studio Raw Fury and Swedish studio Star Sable, while also acquiring Just Cause dev Avalanche Studios for around $103.7 million.

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.

Daily news, dev blogs, and stories from Game Developer straight to your inbox

You May Also Like