Strategic acquisition group MTG has announced its latest buy: Warhammer 40,000: Tacticus maker Snowprint Studios.
Full terms of the deal were not announced, but it’s likely in the range of around $50m, based on MTG’s announcement it had acquired a 70% majority stake for a cash consideration reflecting an 1.8x multiple of Warhammer 40,000: Tacticus’ 2023 revenues.
MTG said Snowprint is expected to generate between $30-35m for the full year 2023, a growth rate of over 150% YoY. The firm also expects to acquire the remaining 30% of the business during 2025-2026. The group also owns Hutch, Innogames, Kongregate, Ninja Kiwi and Playsimple.
For context, Appmagic suggests that Warhammer 40,000: Tacticus, released just over a year ago, has earned Snowprint $23.4m from 3m downloads to date. Snowprint was founded in 2015 and is headquartered in Stockholm, Sweden. It also has an office in Berlin, Germany.
“We are convinced that MTG is the right home for Snowprint going forward, offering us both the freedom to continue building great games, and access to a broad toolkit that can help us speed up the growth of our portfolio,” said Snowprint CEO and co-founder Alexander Ekvall.
Ekvall previously cofounded Fabrication Games, which was later acquired by King with Ekvall appointed director of product at the Candy Crush maker. CTO and co-founder Patrik Lindegren is also a King veteran.