The publisher Innova, known for localization of many MMO for the Russian market, became part of the Swedish holding EG7. The transaction amount was €109 million.Innova will receive €109.8 million in the form of 9.7 million shares of Enad Global 7 AB holding, and the deal itself does not involve additional payments.
The takeover will be completed at the end of the first calendar quarter of 2021.
As a result, all 200 Innova employees will become part of EG7. With this deal, the Swedish holding hopes to strengthen its position in the gaming industry and increase its revenue and profit.
After last year’s reorganization, EG7 has become more active in the market. In November 2020, it acquired the Canadian studios Big Blue Bubble and Piranha Games for €16 million and €31.4 million, respectively. In December, the holding became the owner of Daybreak Game Company, the former daughter of Sony Computer Entertainment — the transaction amount was €300 million.
Innova is an international publisher, one of the founders of which is Georgy Chumburidze. The company is engaged in localization of MMO titles and their release in the markets of Russia and the CIS. She has operated on projects such as Lineage II, Point Blank, R2 Online, Ragnarok Online and Aion, among others.
Since 2018, Innova has also been collaborating with independent mobile developers, offering them assistance in testing, analytics and localization.