Media technology company Azerion intends to become the sole owner of Sulake, the authors of Habbo and Hotel Hideaway. Although she previously owned the majority share of the Finnish studio, now Azerion plans to acquire all 100% of the developers’ shares.
The company has already reached an agreement with Elisa Oyj, another Sulake shareholder, according to the GamesIndustry portal.
This investor will soon transfer 49% of the studio’s shares to Azerion for an undisclosed amount.
Neither side has disclosed all the details of the deal.
It is only known that the management of Sulake and the remaining 96 employees of the studio will retain their positions and continue to work from the office in Helsinki. In addition, Azerion promised that game users will also not feel any consequences due to the takeover of the company.
Apparently, Azerion plans to promote its other assets in Sulake games, which are built around social interaction. It’s about two studio hits. The first of them is the browser and mobile title Habbo Hotel with a MAU of 800 thousand users. The second is the mobile Hotel Hideaway, whose MAU reaches the mark of 840 thousand people.
It should be noted that Azerion acquired a controlling stake in the studio (51%) back in 2018. Since then, the company’s revenues have been climbing. For example, in the period from January 2019 to December 2020, Azerion’s revenue jumped by 46% in annual terms.