The gaming company THQ Nordic AB today announced the acquisition of Coffee Stain Holding AB, including 100 percent of its subsidiary Coffee Stain Publishing AB, and the acquisition of 90% of the shares of Bugbear Entertainment Ltd, with an option to acquire the remaining 10% in the future.
Coffee Stain is a leading game developer and publisher with a growing footprint in the Nordics. The preliminary consideration amounts to SEK 392 million and an earn-out of a maximum of SEK 535 million may be paid in THQ Nordic B shares, subject to certain milestones being met.
Bugbear is a Helsinki-based independent studio developing racing games. Bugbear is currently working on the critically acclaimed Wreckfest. The acquisition includes the development studio and all intellectual property rights. The purchase price has not been announced.
Baker McKenzie acted as legal counsel to THQ Nordic in both transactions. Baker McKenzie’s team consists of among others Anna Orlander, Joakim Falkner, Ian Gulam and Erik Holmgren. Krogerus Attorneys in Helsinki acted as co-counsel in the acquisition of Bugbear.