Find out how to kick start your games industry career

Get Your Free Ticket Today

Thunderful acquires Bridge Constructor publisher Headup in €11m deal

German publisher and developer currently working on unannounced game based on "world-renowned IP"

Thunderful Group has acquired Germany-based developer and publisher Headup.

The Nordic group will pay €5 million in cash up front, with earnouts of up to €6 million to follow based on Headup's performance for the next three years.

€2.5 million of the earnout consideration will be newly issued shares in Thunderful, with the other €3.5 million comprised of a mix of cash and shares.

The acquisition is expected to be completed by March 31. The company will continue to operate as an independent publisher and developer.

Founded in 2009, Headup is best known for the variety of games it has published, including the Bridge Constructor series, adventure game Trüberbrook, and Epic MegaGrant-funded action game Pumpkin Jack.

All 14 employees will be retained, with Headup CEO Dieter Schoeller taking on a new role as head of publishing at Thunderful Games, handling publishing operations in Sweden and Germany.

In addition to the publishing and production projects it is already working on, Headup is currently developing an unannounced game based on a "world-renowned IP."

Legal advisors on the deal were Setterwalls Advokatbyrå and German law firm Fieldfisher, with EY advising on financial and tax due diligence.

This is the fourth acquisition for Thunderful in just over a year.

The company took over Swedish studio Guru Games back in January 2020, followed by UK studio Coatsink Software in October and Swedish developer Station Interactive in November.

Thunderful Group followed these acquisitions with plans for an IPO.

In December, we spoke to CEO Brjann Sigurgeirsson about both the IPO and its ongoing acquisition strategy.

Find out how to kick start your games industry career

Get Your Free Ticket Today

More stories

Koch Media acquires Splatter Connect

Marketing and live event company to become a fully operating subsidiary of the publishing firm

By Jeffrey Rousseau

German ban of Dying Light on Nintendo eShop affects multiple countries

Techland's zombie game unavailable in Europe, Australia, and New Zealand after being denied a German rating

By Jeffrey Rousseau

Latest comments

Sign in to contribute

Need an account? Register now.