Swedish mobile developer MAG Interactive acquired the regional studio FEO Media for $9.7 million with the help of funds provided by the Microcap fund of Swedbank Robur.
Previously, the amount of the transaction was not disclosed.
Swedbank Robur is one of the largest fund managers in the north of Europe. The company is interested in the development of the Scandinavian gaming industry.
“Mobile games have become a more powerful and profitable business than they were expected to be a few years ago. MAG is a brilliant example of an international and successful gaming company with excellent potential,” said Microcap fund Manager Erik Sprinchorn.
Recall that MAG Interactive bought FEO Media in the second half of October this year. FEO Media was MAG’s third acquisition in the last 4 years.
Also on the topic: