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+--- Thread: News - Stillfront Group acquires casual game maker Candywriter for $74.4 million (/thread-94752.html)
News - Stillfront Group acquires casual game maker Candywriter for $74.4 million - xSicKxBot - 04-27-2020
Stillfront Group acquires casual game maker Candywriter for $74.4 million
<div style="margin: 5px 5% 10px 5%;"><img src="https://www.sickgaming.net/blog/wp-content/uploads/2020/04/stillfront-group-acquires-casual-game-maker-candywriter-for-74-4-million.jpg" width="200" height="200" title="" alt="" /></div><div><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. The deal will see Stillfront pay $37.5 million in 708,463 newly issued shares and the remaining $36.9 million in cash. </p>
<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. </p>
<p>Candywriter has been making mobile titles for over a decade, and generated around $26 million in revenue during 2019. </p>
<p>Its game portfolio includes the flagship text-based life simulator <em>BitLife</em> and legacy apps like<em> 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. </p>
<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. </p>
<p>“The acquisition of Candywriter is an excellent next step in further broadening our diversified portfolio, both in terms of genre, audience and addressable market,” said Stillfront chief exec, Jörgen Larsson</p>
<p>“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 downloads to date. We look forward to merging our capabilities in different areas.”</p>
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https://www.sickgaming.net/blog/2020/04/24/stillfront-group-acquires-casual-game-maker-candywriter-for-74-4-million/