Shulou(Shulou.com)11/24 Report--

CTOnews.com, October 14, Fragbite announced the acquisition of Swedish-based studio Fall Damage, acquiring all its outstanding shares at an initial purchase price of 20 million Swedish kronor (CTOnews.com Note: currently about 13.2398 million yuan).

Of this amount, 10 million SEK was paid to external owners in cash, while 10 million SEK was paid to external owners at the subscription price of 4291845 newly issued shares at a subscription price of $2.33 per share, which was issued to the four founders of Fall Damage Holding AB.

After the acquisition, the founder will remain at Fall Damage, and the two parties have signed a lock-up agreement within 36 months from the date of entry for shares issued as part of the purchase.

Based on Fall Damage's earnings between 2024 and 2027, up to SEK 400m can be paid to the founder.

Investors who previously financed Fall Damage game development are entitled to compensation of up to about $22.3 million, up to 50 per cent of profits of about $17.3 million and up to 30 per cent of profits of about $17.3 million from Fall Damage's future profits.

Fall Damage is developing a free shooter game, ALARA Prime, which is expected to be released in the third quarter of 2024.

It is understood that Fall Damage was founded by Dan Vaderlind, Mikael Kalms, Anders Gyllenberg, Mikael Kalms and Markus Nystr ö m in 2017. The four previously co-developed Star Wars: frontline, Battlefield 3 and Battlefield 4 at DICE, with cumulative sales of more than 35 million units.

Fall Damage currently has more than 50 employees with experience from many domestic and international 3A studios.

Fall Damage aims to achieve net sales of SEK 480 million-680 million and earnings before interest, tax, depreciation and amortisation (EBITDA) of SEK 55 million-86 million by 2025.

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