Stillfront Group has fully acquired mobile game developer and publisher Candywriter, LLC for at least $74.4 million. Of the payout, $37.5 million is to be paid in newly-issued Stillfront shares, while the rest will be paid in cash.
Additionally, Stillfront may pay an earn-out consideration of up to $120.6 million depending on Candywriter earnings for the financial years of 2020 through 2022.
Candywriter founders Kevin O’Neil and Nadir Khan will remain on board as part of the management team.
Candywriter is based in Miami, and has released a number of casual mobile games since its founding in 2006, including text-based life simulation title BitLife.
“The acquisition of Candywriter is an excellent next step in further broadening our diversified portfolio, both in terms of genre, audience and addressable market.”
Stillfront CEO Jörgen Larsson
This is but the most recent in a series of Stillfront acquisitions, including Storm8 earlier this year, Kixeye in 2019, Imperia Online in 2018, and eRepublik Labs and GoodGame in 2017.
Stillfront is a global group of gaming studios and a market leader in the free-to-play online games genre. Its diverse and exciting games portfolio has two common themes; loyal users and long lifecycle games. Organic growth and carefully selected and executed acquisitions embody Stillfront growth strategy and 650 co-workers are employed in an organization that engenders the spirit of entrepreneurship. Stillfront main markets are the US, Germany, MENA, France and UK. Headquartered in Stockholm, Sweden, the company is listed on Nasdaq First North Premier.
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