MAG Interactive will acquire all shares in Sventertainment AB for $2.3 million to integrate live broadcasts into the New QuizDuel game.
MAG Interactive is one of the leading mobile game developers focused on casual social games. With passionate, creative teams and a data-driven business model, the company delivers world-class gaming experiences to millions of players worldwide. MAG’s expertise in word games and trivia has created a catalog of games, including Ruzzle, Word Domination, WordBrain and QuizDuel, that have been downloaded over 250 million times.
Primetime is an excellent addition to our catalog of smart, easily accessible word and trivia games and fits in particularly well with New QuizDuel. We want to create synergy between Primetime and MAG by integrating live broadcasts into New QuizDuel, making this the next strategic step toward becoming a world leader in trivia.
Daniel Hasselberg, CEO of MAG Interactive
And now MAG has announced the acquisition of Sventertainment AB, the developer of mobile live quiz game Primetime. Sventertainment is a Swedish media company specializing in live-streamed entertainment. The company developed the successful trivia app Primetime, which broadcasts live trivia seven days a week from launch in 2018. Sventertainment AB will stay independent with its current management team remaining in place. Primetime will continue to exist as well combined with a large user base from the QuizDuel franchise.
With live broadcasting we will offer something completely new and exciting and are building unique added value for our QuizDuel players long-term. Primetime’s complementary business model, that is based on sponsor financing, also amounts to an opportunity to increase ARPDAU in New QuizDuel.
Daniel Hasselberg, CEO of MAG Interactive
Sventertainment had a turnover of just over SEK 9 million during the first half of 2020 – an increase of 57% compared with the same period last year – in which it earned pre-tax profits totalling SEK 1.3 million. So this acquisition is expected to have a positive effect for MAG on EBIT.
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