Thunderful Games is delighted to announce that it has acquired Madrid-based developer, Stage Clear Studios SL in a deal worth up to 2.5 million euros.
The details of the purchase were given as follows: “Thunderful Group pays an upfront fee of 1.0 million EUR on a cash- and debt-free basis. An additional earnout component of a maximum of 1.5 million EUR could be paid by 2025 dependent on certain targets being met. The total maximum consideration for the transaction is therefore 2.5 million EUR.”
Brjann Sigurgeirsson, CEO of Thunderful Group commented:
“The acquisition of Stage Clear Studios is fully in line with our strategy to grow our Games segment and the Group as a whole. Stage Clear Studios has established itself as a talented and reliable development studio with a reputation of delivering great products on time and on budget.”
Agostino Simonetta, Thunderful Group’s Chief Strategy and Investment Officer added:
“This deal strengthens our international position, broadens our network towards more development studios and creates synergies within the Group’s publishing operations. We welcome our new co-workers in Madrid, who will work closely with their colleagues in the Nordics, UK and Germany.”
By acquiring Stage Clear Studios S.L., Thunderful adds a team of c. 40 talented game developers – with experience in full-scale development and porting to their family as the group looks to grow and develop their international games business.
Stage Clear Studios S.L. was founded in 2012 and has become a well-established studio that develops games for many platforms. Historic collaborations include titles like Jericho, Castlevania: Lords of Shadow, Planet51, FIFA, Dead Space, to name a few.
Daniel Santos Fonseca, Managing Director of Stage Clear Studios S.L also commented:
“In Spain we say that in life there are certain trains that you have to catch – and the opportunity to be part of the Thurderful Group was an unmissable train! When I met the Thunderful management team and heard about their plans, I knew we had to be a part of it. We are proud and excited to start this new adventure with the Thunderful Group.”