Embracer Group acquires mobile game maker Easybrain for $640 million

Recent off of the $1.3 billion acquisition of Gearbox Leisure, Embracer Group has additionally acquired cellular sport maker Easybrain in Cyprus for not less than $640 million.

Beneath the deal, Easybrain will get $640 million in inventory and as much as $125 million in further consideration, presumably as a part of a bonus. It’s formally thought-about a merger deal, given the inventory funds.

Easybrain’s senior administration — Peter Skoromnyi, Matvey Timoshenko,  and Oleg Grushevich — will post-closing, collectively grow to be the third-largest shareholder in Embracer. Easybrain will grow to be Embracer’s eighth operative group as an entirely owned subsidiary and proceed to be led by its present administration.

Easybrain’s revenues in 2020 are anticipated to be $210 million, whereas its earnings earlier than curiosity and taxes will likely be $70 million.

Easybrain is a cellular sport developer with a core concentrate on advertising-based puzzle and logic video games. Easybrain’s titles have greater than 750 million installs so far and 12 million day by day lively customers throughout 15 reside video games.

Embracer Group paid for the deal in newly issued Embracer B Shares. The sellers will get $130 million in inventory with no restrictions, $220 million in inventory that should be held for not less than six months, $145 million in inventory that should be held for a yr, and $145 million in inventory that should be held for 2 years. If Easybrain hits targets within the subsequent six years, it might probably get one other $125 million in inventory.

“I’m excited to welcome Peter, Matvey, Oleg and your complete Easybrain crew to the Embracer household,” stated Lars Wingefors, Group CEO of Embracer Group, in a press release. “Easybrain is a extremely diversified development enterprise with a market-leading place in timeless puzzle and logic video games. They’re a particularly skilled and process-driven crew with a superior tech platform and world-class UA capabilities. Easybrain has repeatedly demonstrated the aptitude to develop, scale globally, and function category-leading puzzle and logic video games. By becoming a member of forces with Easybrain, we now have meaningfully accelerated Embracer’s cellular and free-to-play enterprise.”

Easybrain is headquartered in Limassol, Cyprus, and it has an workplace in Minsk, Belarus. It has 230 workers. The sport portfolio contains titles with robust long-term retention comparable to Sudoku.com, Nonogram.com, Blockudoku, and Pixel Artwork. The corporate just lately expanded the portfolio with a number of releases in 2020, together with new titles comparable to Artwork Puzzle, Killer Sudoku and Nonogram.com Shade.

“We’re delighted that Easybrain merges with Embracer. We’re extraordinarily happy with the crew that introduced our enterprise to what it’s as we speak, and now we really feel it’s time to grow to be a part of one thing larger,” stated Grushevich, in a press release. “We’re constructive that our future efforts will contribute significantly to the group outcomes and are excited to be a part of such an important group of entrepreneurs underneath Lars’ management.”

Aream & Co. was an adviser for Easybrain.

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