Swedish publisher Thunderful has acquired Spanish console and PC developer Stage Clear Studios in a deal worth up to €2.5 million ($2.9 million).

The move is the latest in a string of acquisitions for Thunderful, which recently purchased Little Big Planet collaborator Station Interactive and fledgling studio To The Sky.

The company nabbed Stage Clear with a view to further expanding its games segment, and said the deal will bolster its internal development capablities.

Founded in 2012, Stage Clear is based in Madrid and has developed projects internally while also working on franchises like FIFA and Dead Space in a work-for-hire capacity.

"The acquisition of Stage Clear Studios is fully in line with our strategy to grow our games segment and the group as a whole. Stage Clear are versatile: they’ve shown over the years that they can develop, improve and port ongoing projects, but they’re also working on interesting game projects of their own," said Thunderful chief exec, Brjann Sigurgeirsson.

"The acquisition strengthens our international position, broadens our network towards more development studios and creates synergies within the group's development and publishing operations."

Thunderful will pay an initial €1 million upfront, and has agreed to hand over an additional earn-out of €1.5 million if Stage Clear hits certain operational targets before June 30, 2025. Following the deal, Stage Clear will remain an independent developer within the Thunderful Games segment.