Baker McKenzie advised Devolver Digital, Inc. ("Devolver") on the acquisition of Croteam. Devolver entered into an agreement to acquire 100 percent of the share capital in Croatian-based Croteam.
Croteam is an independent game development company of games and 3D engine technologies for PC, Mac, Linux, PlayStation 4, Xbox One, Nintendo Switch, iOS and Android, as well as various VR platforms. Croteam initially started as a "garage game development" in 1992 and has since been focused on the development of video games. The company currently employs 40 people and is renowned for its globally successful games Serious Sam and the Talos Principle.
Devolver is a Texas-based video game publisher specializing in the publishing of indie games such as the latest surprise hit Fall Guys.
The transaction was completed on 19 October 2020 and is Devolver’s first acquisition in Europe.
Baker McKenzie's global video games industry team advises on a wide range of national and cross-border transactions in the video games industry. Most recently, Baker McKenzie advised Embracer Group on several acquisitions, including the acquisition of Saber Interactive and Tarsier Studios, Peak Games on its acquisition by Zynga, and THQ Nordic on its acquisition of Milestone and Gunfire Games.
Legal advisor to Devolver:
Media: Sebastian Schwiddessen (Baker McKenzie, senior associate, Munich)
Corporate/M&A: Dr. Tino Marz (Baker McKenzie, counsel, Munich)
Corporate/M&A: Roger W. Bivans (Baker McKenzie, Partner, Dallas)