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Paradox Interactive AB (Paradox) has signed a binding agreement to acquire all shares in Haemimont Games AD (Haemimont Games). The acquisition is a further step in Paradox's strategic focus on growing in the management games genre, by building a strong internal capability that complements the Group's current studio organization. "We are very happy to welcome Haemimont Games to Paradox!" said Fredrik Wester, CEO of Paradox. "They bring a tight-knit team with long experience in developing management games with many well received projects in their portfolio. Moreover, they have a strong creative streak, technology developed for their niche, a new IP in development and a strong culture that fits Paradox's way of working. We have strong faith in their team and leadership, and our main focus now is to ensure that they can continue to create great games under new ownership."
Following the acquisition, Haemimont Games will be a wholly owned subsidiary of Paradox. The current leadership and team will remain active with the studio, and the studio's ongoing projects will remain in development. "We're delighted to become a part of the Paradox family!" said Gabriel Dobrev, Founder of Haemimont Games. "The cultural fit between our companies is remarkable, and we already feel at home. This partnership empowers us to push the boundaries of our games, delivering deeper and more intense experiences to our players. It also opens new horizons for our team, technology, and creative processes, which we're eager to explore. Expect amazing new games from us!" The acquisition consists of an upfront cash consideration and a performance-based earnout of similar size that is to be paid out over the coming years. Haemimont Games and Paradox have agreed to not disclose the purchasing price at this point. The acquisition is financed with cash at hand and expected to be completed within a few days.
View at TechPowerUp Main Site | Source
Following the acquisition, Haemimont Games will be a wholly owned subsidiary of Paradox. The current leadership and team will remain active with the studio, and the studio's ongoing projects will remain in development. "We're delighted to become a part of the Paradox family!" said Gabriel Dobrev, Founder of Haemimont Games. "The cultural fit between our companies is remarkable, and we already feel at home. This partnership empowers us to push the boundaries of our games, delivering deeper and more intense experiences to our players. It also opens new horizons for our team, technology, and creative processes, which we're eager to explore. Expect amazing new games from us!" The acquisition consists of an upfront cash consideration and a performance-based earnout of similar size that is to be paid out over the coming years. Haemimont Games and Paradox have agreed to not disclose the purchasing price at this point. The acquisition is financed with cash at hand and expected to be completed within a few days.
View at TechPowerUp Main Site | Source