The Swedish holding Thunderful Group is withdrawing from the game distribution business. The company announced the sale of AMO Toys, Bergsala Aktiebolag, Thunderful 1, and Thunderful Solutions.
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The buyer will be Bergsala, a company owned by Thunderful Group's largest shareholder and board member, Owe Bergsten. It will pay a total of 634 million Swedish krona or 59.46 million dollars.
The deal is expected to close on June 28, 2024.
Thunderful Group explained that the sale of the distribution subsidiaries would strengthen the holding’s financial position, which has significantly deteriorated recently. In addition, Thunderful Group will now be able to focus more on game development. After the completion of the deal, all its activities will be divided among three business segments: in-house game development, game development in partnership with others, and game publishing.