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STOCKHOLM (Reuters) – E-sports and gaming group MTG has agreed to purchase cell video games developer Ninja Kiwi for round 1.6 billion crowns ($186 million) to broaden its gaming portfolio, it mentioned on Wednesday.
MTG mentioned the up-front fee can be round 1.2 billion crowns with earn-out funds of as much as 406 million crowns, together with money and share parts.
The Swedish agency mentioned in a separate assertion that it was elevating 1.1 billion crowns from a share concern which can be directed at Swedish and worldwide institutional buyers to finance the deal whereas funding agency Atairos had agreed to cowl round 50% to change into a big long run shareholder within the agency.
MTG, which has a $1.3 billion market cap, mentioned shopping for Ninja Kiwi would take it into a brand new gaming style, tower defence technique video games, with a complete of roughly 140 million downloads up to now and 6.2 million month-to-month energetic customers.
“After finishing the acquisition, MTG holds sturdy positions within the metropolis constructing and technique genres via InnoGames, cell racing via Hutch, idle video games via Kongregate and tower defence via Ninja Kiwi,” the corporate mentioned in a press release.
Privately-owned Ninja Kiwi relies in Auckland, New Zealand. Its video games embody the Bloons Tower Protection video games.
MTG not too long ago established a brand new holding firm for its gaming enterprise, MTG Gaming, to carry acquisitions – corresponding to Hutch and Ninja Kiwi – and all its shares in gaming companies InnoGames and Kongregate.
MTG had mentioned in January that it had entered a non-binding association to purchase an unidentified cell video games developer with an preliminary buy worth of round $130-$150 million.
Reporting by Helena Soderpalm and Simon Johnson; Enhancing by David Goodman and Elaine Hardcastle
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