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THQ Nordic Acquires Publisher/Developer HandyGames

by Rainier on July 9, 2018 @ 8:42 a.m. PDT

THQ Nordic announced it has acquired German based publisher/developer HandyGames, known for a variety of mobile/console games, most recently 2017's Aces of the Luftwaffe: Squadron.

THQ Nordic is acquiring 100% of the shares for a total cash consideration of 1 million euro. In addition, the parties have agreed a potential performance based earnout of up to 1.5 million euro.

Simultaneously, THQ Nordic AB has acquired all IPs and Franchises, like Townsmen or Clouds and Sheep among others, from ze Germans. The management team, all employees, as well as the location will be preserved.

Founded in 2000, HandyGames has released more than 150 games on a multitude of platforms, utilizing a wide range of technologies. Current game development is focused on iOS, Android, Oculus Rift, Samsung Gear VR, HTC Vive, tablet computers, Android TV, Wearables as well as digital-only releases on next generation consoles. The company currently has about 50 employees.

HandyGames will continue operating as a developer and publisher for value-priced projects under the management of THQ Nordic GmbH in Vienna. 

“Both our companies have a very similar DNA when it comes to business conduct, corporate culture and other aspects, such as valuing our independence, whilst at the same time operating in a bigger, corporate network”, said Markus Kassulke and Christopher Kassulke, the CEO brotherhood of HandyGames. “In becoming part of the THQ Nordic group, not only did we find a team that is passionate about publishing great content, but also has the right framework for us for the following years to come.”

“It is a true win-win situation for all parties involved, as HandyGames perfectly complements the setup of the rest of our group as the new “go to”-publisher for small- and midsized developers and projects and will benefit from our network and infrastructure in return. In joining forces with HandyGames, THQ Nordic is tapping into the VR Games segment, and gains access to one of Europe´s most powerful mobile games distribution network“, comments Klemens Kreuzer, Managing Director at THQ Nordic GmbH. “So we raise our glass and welcome HandyGames to the THQ Nordic crew.”

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