DLA Piper has advised Stillfront Group in connection with its acquisition of Nanobit

DLA Piper has advised Stillfront Group, a global group of gaming studios, in connection with its acquisition of Nanobit. The initial consideration amounted to approximately USD 100,000,000 on a cash and debt free basis, out of which approximately 70% was paid in cash and approximately 30% was paid in newly issued shares in Stillfront Group. The total consideration that Stillfront Group may pay in connection with the transaction amounts to a maximum of USD 148,000,000 on a cash and debt free basis.

Nanobit is a leading developer and publisher of mobile games based in Zagreb, Croatia, which focuses on narrative role playing games (RPG). Nanobit is expected to generate net revenue of approximately SEK 600,000,000 - 640,000,000, with approximately 17-22% in adjusted EBIT margin for the financial year 2020 and Stillfront Group's acquisition of Nanobit contributes to expanding Stillfront Group's portfolio further as well as broadening its audience.

The DLA Piper team, which comprised lawyers across Sweden, Croatia, the United Kingdom and Hungary, was led from the DLA Piper Stockholm office by partners Peter Ihrfelt and Peder Grandinson, together with associates Björn Torsteinsrud, Rebecca Fallberg, Erik Rosberg and Johanna Svantesson.