The Swedish digital games giant Stillfront Group announced its latest €10 M acquisition – the Bulgarian Game Developer Imperia Online. The transaction will be structed as base payment plus potential earnout. €5 M will be payable in cash and €5 M via 269,412 newly issued shares in the company upon completion of the transaction. The deal is expected to close by mid-October 2018. Depending on performance over the next three years, the deal value could rise to €27.5 M. The sellers will remain active as the key management team of the company going forward.
Stillfront CEO Jörgen Larsson is optimistic that Imperia will be an excellent addition to the Group: “Imperia Online fits perfectly into Stillfront’s growth strategy by broadening our portfolio of studios and games with characteristics that drive long-term gamer relations. Imperia Online is a leading developer and publisher with a solid and highly loyal user base.”
Imperia Online is a Sofia-based company known for the flagship medieval massively multiplayer online (MMO) strategy game. Having around 45 M users worldwide, the company generated a net revenue of approximately €4.1 M and a 48% operating margin for the first 8 months of 2018.
Dobroslav Dimitrov, CEO of Imperia Online believes the acquisition is an important phase in company’s evolution: “Becoming part of Stillfront Group enables us to continue our development of new products within online strategy games. We see this acquisition as a strategic next step for Imperia Online, and look forward to share market knowledge and create synergies with the other studios of Stillfront Group.”
