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MTG acquires majority stake in Snowprint Studios.

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NORDIC BUSINESS REPORT-October 5, 2023-MTG acquires majority stake in Snowprint Studios

(C)2023 M2 COMMUNICATIONS http://www.m2.co.uk

Swedish gaming company Modern Times Group MTG AB (MTG) (STO:MTG-B) announced on Thursday that it has acquired a 70% majority stake in Snowprint Studios, a Swedish mobile game development studio known for the success of 'Warhammer 40,000: Tacticus'.

The transaction, conducted on a cash and debt-free basis, involves a cash consideration reflecting a 1.8x multiple of the 2023 revenues generated by the popular game.

Snowprint Studios is the creative force behind Warhammer 40,000: Tacticus, which is based on the globally recognised Warhammer 40,000 intellectual property owned by Games Workshop (LON:GAW). Launched in 2022, the game has swiftly become one of the leading mobile titles associated with the Warhammer 40,000 universe and stands out as a leading mobile turn-based tactics game.

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