Swedish mobile game developer and publisher MAG Interactive has acquired Sweden-based word game specialist Apprope in a deal which could rise to almost $12 million.
Mag Interactive will pay Apprope SEK 50 million ($5.9 million) upfront, and additional SEK 50 million if they accomplish their profit targets over the next three years. The closing will take place on January 4th, 2021.
Apprope was founded in 2012 in Stockholm by Danie Lodin and Wedenborn. The two founders are the only employees in the company and they have published many successful word games for 8 years which have generated 55 million downloads so far.
The company is best known for its popular title Word Bubbles which has generated SEK 100 million ($11.8) since 2014. Also, Apprope recently launched Word Mansion on both Google Play Store and App Store and the game has attracted significant attention in such a short time.
”We have always been big fans of MAG. They have repeatedly shown a great flair for entertaining games, with many classic and new exciting titles in their successful portfolio,” said Markus Wedenborn, Apprope CEO. “That’s why we see Daniel’s and MAG’s trust as proof of Apprope’s strength and potential – and we are incredibly proud and inspired to join the same creative family. It will be exciting to get off to a flying start next year by taking part in the opportunities to grow that will result from close collaboration – and create magic together.”
“We are impressed by Apprope’s combination of rapid development and high quality, together with a clear focus on profitability. They have structured their product development in such a way that we see good opportunities to build more products with the same game engine as Word Mansion.’’ said Daniel Hasselberg, MAG Interactive’s CEO. ‘’We look forward to welcoming Daniel and Markus to the MAG family in January”.