German free-to-play outfit Goodgame Studios is going public by merging with the Stillfront Group in a deal worth €270 million ($318.5 million).
The deal will see the Stockholm-based Stillfront Group acquire Goodgame, with current Goodgame shareholders receiving around 40 percent of the shares and voting rights of the newly combined company.
Although you might not recognize the Stillfront name, the group operates eight near-autonomous studios around the world including Bytro Labs, Dorado Online, Simutronic, Babil Games, and Unravel developer Coldwood Interactive.
As part of the merger, Goodgame founder and managing director, Dr. Kai and Dr. Christian Wawrzinek, will become major shareholders in the Stillfront Group while also remaining managing directors of Goodgame.
“We are very proud to announce the merger of Goodgame Studios with Stillfront Group, which is listed on the Nasdaq First North Premier stock exchange,” said Wawrzinek.
“Once the transaction is approved by the Stillfront Group’s shareholder meeting in January 2018, Goodgame Studios can be publicly traded indirectly for the first time.”
The pair have joined forces in an attempt to create a games company of “global importance,” with Goodgame moving at a moment when profits are soaring.
Last month, the studio broke through the all-time turnover ceiling of $1 billion dollars, and has been given another boost following the successful launch of its latest game, Big Farm: Mobile Harvest, which has racked up 2 million registered users in four weeks.
No personnel changes are planned as a result of the deal, and both Goodgame and Stillfront will continue to operate as normal.
“We managed to turn things around in 2017 and are now very profitable, and together with the other studios of the Stillfront Group, we want to pursue our shared vision of creating a gaming company of global importance,” continued Wawrzinek.
“Being listed on the stock market provides the flexibility that we require for our plans. Our future looks bright.”