MTG today announced that it has reached an agreement to acquire Bloons developer Ninja Kiwi in its entirety.
The deal will cost MTG at least SEK 1.22 billion ($142 million), with another SEK 406 million ($47.2 million) contingent on reaching profitability targets over the next three years.
In announcing the acquisition, MTG group president and CEO Maria Redin noted Ninja Kiwi's expertise in the tower defense genre and the "evergreen" Bloons IP as part of the studio's appeal.
"The strong organic traffic to Ninja Kiwi's portfolio of games is hugely impressive, as is the company's successful combination of paid and in-app purchase models in its pricing structure," Redin said. "Both are testament to the quality of the titles that Ninja Kiwi has created."
MTG has been on the hunt for acquisitions, with the company in December increasing its stake in strategy developer InnoGames and acquiring mobile racing game company Hutch Games.
The company hinted at more acquisitions on the way last month when, in reporting year-end financials, Redin referred to those moves, saying, "These acquisitions mark the beginning of a new growth journey for MTG's gaming vertical, with an agenda to grow both organically, and through an active M&A strategy."
The acquisition is expected to close by the end of June.
Ninja Kiwi was founded in 2006 by brothers Chris and Stephen Harris. It launched the first Bloons TD game the next year, and has continued to expand on the franchise since.
Ninja Kiwi has 70 employees today, split between its Auckland, New Zealand headquarters and an office in Dundee, Scotland.