Please wait...
Please wait...

MTG finalises InnoGames stake

Modern Times Group (MTG) has completed its deal to acquire a 35% stake in German online games developer and publisher InnoGames.

Jørgen Madsen Lindemann

Jørgen Madsen Lindemann

The arrangement will see MTG first acquire a 21% stake in the company, followed by a further 14% during 2017.

The €90m (US$100m) deal, which values InnoGames at €260m, includes an option for MTG to acquire a further 16% of the company at the same valuation before the end of September 2017.

MTG has bought the stake from London-based investment firm Eight Roads Ventures and the company’s Hamburg-based founders.

InnoGames, which launched in 2007, creates strategy and role-playing games and runs four studios that employ 400 people, with 150 million registered users.

The firm’s management team will remain at the company, with the deal subject to German and Austrian merger approvals.

Jørgen Madsen Lindemann, MTG president and CEO, said: “Our MTGx division is now present in three complementary digital storytelling verticals, each of which offers truly global potential.

“InnoGames is a perfect fit for our strategy of investing in relevant, complementary and scalable digital brands, content and communities. We are looking forward to working with the talented InnoGames team to build on their successful track record.”

It’s the latest digital investment for MTG, which has previously bought into eSports outfits such as ESL and video companies including Zoomin.TV and Splay.

RELATED ARTICLES

Please wait...