Sweden-based holding company Embracer Group agreed to merge with Cyprus-based game developer Easybrain, as it looks to boost its global reach in the mobile gaming market.
The company stated the deal is valued at $640 million in cash, with an additional $125 million possible subject to meeting certain financial targets, and is expected to be finalised in two months.
Easybrain develops classic puzzles and logic games.
Embracer Group CEO Lars Wingefors said the game developer was “a highly diversified growth business” holding a leading position in “timeless puzzle and logic games”. He added the tie-up boosted the group’s mobile and free-to-play business.
Easybrain executives Oleg Grushevich, Peter Skoromnyi and Matvey Timoshenko will continue serving in management roles following the merger.
Games developed by Easybrain have an average of 12 million daily users, and have accumulated more than 750 million downloads to date, Embracer Group said.
The developer’s portfolio includes 15 operating titles, including Art Puzzle, Killer Sudoku and Jigsaw Puzzle.
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