Tinybuild has moved to 'acquihire' Russian studio Bad Pixel for a fee that could rise to $17.1 million.
The U.S. publisher will pay an initial $6.5 million for Bad Pixel, comprising $4.9 million in cash and $1.6 million in newly-issued Tinybuild shares. An additional $10.6 million in shares will then be paid over the next three years if certain financial targets are met.
Bad Pixel has been working on a multiplayer survival shooter called Deadside, which is currently available in early access. Tinybuild will now bring the Bad Pixel development team in-house to continue production, and believes the project will "create value for shareholders in the long-term."
"We are delighted to announce the acquisition of Bad Pixel, our fourth acquihire this year, as we continue to scale up our ambitions. We have known the Bad Pixel team for over two years, and we are extremely excited to be working with them," said Tinybuild CEO Alex Nichiporchik.
"Our goal is to expand our position as a leading global developer and publisher, focusing on IP ownership while creating long-term scalable franchises across multiple media formats. In addition, we are actively looking at a number of other potential acquihires and larger scale acquisitions to enhance our strategic and operational position."
Tinybuild has made a number of notable acquisitions over the past year, purchasing studios like Rawmen developer Animal, Streets of Rogue maker DogHelm, and Totally Reliable Delivery Service creator We're Five Games.