Toadman Interactive AB (publ) has entered into an agreement with the shareholders of Sold Out Sales & Marketing Limited to acquire 100 percent of the shares in Sold Out for a purchase price of GBP 16.0 million, plus an additional consideration of up to GBP 5.2 million, on a cash- and debt-free basis. The consideration is paid partly in cash and partly in Toadman Interactive shares.
Sold Out is a leading video game publisher and distributer based in London. The acquisition is in line with Toadman Interactive’s strategy to perform complementary acquisitions to establish a stronger industry position.
Closing of the transaction is expected to take place on 12 December 2019.
Baker McKenzie acts as legal advisor to Toadman Interactive in connection with the transaction. Baker McKenzie’s team mainly consists of Anna Orlander, Stefan Balazs, Ian Gulam and Erik Holmgren and from the firm's London office, Nick O'Donnell, Dominique Manguiat and Cristina Brown.