Modern Times Group MTG AB (OM:MTG B) acquired 70% stake in Snowprint Studios AB from Hiro Capital 1, managed by Hiro Capital 1 LLP, King Digital Entertainment plc, Korea Investment Partners Co. Ltd., Sisu Game Ventures Oy and others for approximately SEK 650 million.
October 04, 2023
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Modern Times Group MTG AB (publ) (OM:MTG B) acquired 70% stake in Snowprint Studios AB from Hiro Capital 1, managed by Hiro Capital 1 LLP, King Digital Entertainment plc, Korea Investment Partners Co. Ltd., Sisu Game Ventures Oy and others for approximately SEK 650 million on October 5, 2023. This is a cash transaction made on cash and debt free basis. Gernandt & Danielsson Advokatbyrå KB acted as legal advisor, Ernst & Young Corporate Finance AB acted as financial advisor and Ernst & Young AB acted as due diligence provider to Modern Times Group MTG AB. Aream & Co acted as financial advisor, Bird & Bird Advokat KB acted as legal advisor and Bird & Bird acted as accountant to Snowprint Studios AB. Anthony Waller of CMS Cameron McKenna Nabarro Olswang LLP acted as legal advisor to Hiro Capital.
Modern Times Group MTG AB (publ) (OM:MTG B) completed the acquisition of 70% stake in Snowprint Studios AB from Hiro Capital 1, managed by Hiro Capital 1 LLP, King Digital Entertainment plc, Korea Investment Partners Co. Ltd., Sisu Game Ventures Oy and others on October 5, 2023.
Modern Times Group MTG AB is a Sweden-based entertainment company. The Company operates in two segments: Esport and Gaming. The Esport segment is made up of ESL, Dreamhack and MTG VC-fundâs investments in esport related companies. Through ESL and Dreamhack,the Company operates national and international tournaments as well as grassroots amatuer cups, leagues and festivals. The Gaming segment is made up of InnoGames, Kongregate and MTG VC-fundâs investment in gaming-related companies. InnoGames is publisher of mobile and on-line games. InnoGamesâ complete portfolio encompasses seven live games and several mobile titles in production. InnoGames is focused on the free-to-play segment and provides players with a cross-platform experience on PC and mobile devices. Kongregate is mobile game publisher and developer. The Company operates worldwide.
Modern Times Group MTG AB (OM: MTG B) acquired 70% stake in Snowprint Studios AB from Hiro Capital 1, managed by Hiro Capital 1 LLP, King Digital Entertainment plc, Korea Investment Partners Co. Ltd., Sisu Game Ventures Oy and others for approximately SEK 650 million.
MODERN TIMES GROUP MTG AB 
