{"id":118929,"date":"2020-10-05T13:32:00","date_gmt":"2020-10-05T13:32:00","guid":{"rendered":"http:\/\/www.gamasutra.com\/view\/news\/371341"},"modified":"2020-10-05T13:32:00","modified_gmt":"2020-10-05T13:32:00","slug":"thunderful-group-acquires-uk-developer-coatsink-for-29-8-million","status":"publish","type":"post","link":"https:\/\/sickgaming.net\/blog\/2020\/10\/05\/thunderful-group-acquires-uk-developer-coatsink-for-29-8-million\/","title":{"rendered":"Thunderful Group acquires UK developer Coatsink for $29.8 million"},"content":{"rendered":"<p>Nordic development and publishing group Thunderful has fully acquired <em>Shadow Point <\/em>and<em> Phogs! <\/em>developer Coatsink Software for an initial \u00a323 million ($29.8 million).&nbsp;<\/p>\n<p>The deal will see Thunderful pay an initial \u00a311.5 million ($14.9 million) in cash and \u00a311.5 million ($14.9 million) in newly issued ordinary shares for the UK studio, which is currently working on five in-house projects including <em>Jurassic World Aftermath <\/em>and<em> Transformers Battlegrounds<\/em> along with several work-for-hire projects.<\/p>\n<p>An earn-out consideration worth \u00a342.5 million ($55.1 million) will also be paid out if Coatsink exceeds its financial targets for 2021 and 2022, taking the potential value of the acquisition to \u00a365.5 million ($85 million).&nbsp;<\/p>\n<p>Thunderful, which owns other studios and publishers&nbsp;including Rising Star Games, Image &amp; Form, and Zoink, said the deal will further bolster its games business.&nbsp;<\/p>\n<p>&#8220;The acquisition is in line with Thunderful\u2019s strategy to expand its Games segment by adding attractive platform partnerships and publishing deals,&#8221; reads a press release. &#8220;The acquisition will allow both companies to accelerate and strengthen ongoing and future development projects.&#8221;<\/p>\n<p>Coatsink will remain an independent developer under the Thundeful umbrella, and will be reported as part of Thunderful Games moving forward.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nordic development and publishing group Thunderful has fully acquired Shadow Point and Phogs! developer Coatsink Software for an initial \u00a323 million ($29.8 million).&nbsp; The deal will see Thunderful pay an initial \u00a311.5 million ($14.9 million) in cash and \u00a311.5 million ($14.9 million) in newly issued ordinary shares for the UK studio, which is currently working [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":118930,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-118929","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\/118929","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=118929"}],"version-history":[{"count":0,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/posts\/118929\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/media\/118930"}],"wp:attachment":[{"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/media?parent=118929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/categories?post=118929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/tags?post=118929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}