{"id":112065,"date":"2020-04-24T14:22:00","date_gmt":"2020-04-24T14:22:00","guid":{"rendered":"http:\/\/www.gamasutra.com\/view\/news\/361794"},"modified":"2020-04-24T14:22:00","modified_gmt":"2020-04-24T14:22:00","slug":"stillfront-group-acquires-casual-game-maker-candywriter-for-74-4-million","status":"publish","type":"post","link":"https:\/\/sickgaming.net\/blog\/2020\/04\/24\/stillfront-group-acquires-casual-game-maker-candywriter-for-74-4-million\/","title":{"rendered":"Stillfront Group acquires casual game maker Candywriter for $74.4 million"},"content":{"rendered":"<p>Stillfront Group has <a href=\"https:\/\/www.stillfront.com\/en\/stillfront-group-acquires-candywriter-llc-and-discloses-updated-pro-forma-figures-for-2019\/\">fully acquired casual game developer Candywriter<\/a> for an initial $74.4 million.&nbsp;The deal will see Stillfront pay $37.5 million in 708,463 newly issued shares and the remaining $36.9 million in cash.&nbsp;<\/p>\n<p>An earn-out consideration worth a total of $120.6 million has also been inserted into the deal, and will be paid out in annual installment depending on the EBIT development of Candywriter in 2020, 2021, and 2022.&nbsp;<\/p>\n<p>Candywriter has been making mobile titles for over a decade, and generated around $26 million in revenue during 2019.&nbsp;<\/p>\n<p>Its game portfolio includes the flagship text-based life simulator <em>BitLife<\/em> and legacy apps like<em>&nbsp;Letter Soup<\/em> and <em>Adult Colouring Book<\/em>, and currently boasts around 1.2 million daily active users and 7.8 million monthly active users.&nbsp;<\/p>\n<p>Stillfront, which owns a number of studios including Coldwood Interactive, GoodGame, and Dorado Games, claims the purchase will help diversify its output and put it in a position to become a leading player in the freemium market.&nbsp;<\/p>\n<p>&#8220;The acquisition of Candywriter is an excellent next step in further broadening our diversified portfolio, both in terms of genre, audience and addressable market,&#8221; said Stillfront chief exec, J\u00f6rgen Larsson<\/p>\n<p>&#8220;Candywriter has developed a number of interesting apps and casual games since 2006 and with<em> BitLife<\/em>, they have created a unique game in the market, with 42 million&nbsp;downloads to date. We look forward to merging our capabilities in different areas.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stillfront Group has fully acquired casual game developer Candywriter for an initial $74.4 million.&nbsp;The deal will see Stillfront pay $37.5 million in 708,463 newly issued shares and the remaining $36.9 million in cash.&nbsp; An earn-out consideration worth a total of $120.6 million has also been inserted into the deal, and will be paid out in [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":112066,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-112065","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/posts\/112065","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/comments?post=112065"}],"version-history":[{"count":0,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/posts\/112065\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/media\/112066"}],"wp:attachment":[{"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/media?parent=112065"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/categories?post=112065"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/tags?post=112065"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}