Stillfront Group has penned a deal to fully acquire the strategy game developer Kixeye for $90 million, or up to $120 million depending on the results of the current financial year.
The acquisition sees Stillfront picking up Kixeye’s entire portfolio, including its four current live games, in addition to the studio itself, a move that CEO Jörgen Larsson says bolsters Stillfront’s strategy of working with teams and games that drive “long term gamer relations.”
“Kixeye fits perfectly into Stillfront’s growth strategy by broadening our portfolio of studios and games with characteristics that drive long term gamer relations,” said Larsson in a press release. “Kixeye['s] games portfolio of four strong IPs and a well-known brand is a very good contribution to our existing game portfolio and increases the potential for synergies within the Group.”
The company financed the acquisition through a bridge loan that it plans to pay back over the next 12 months, and the deal is expected to close on July 1, 2019.