case / 01 Oct 2020
Setterwalls has advised the shareholders in Nanobit (Developer of mobile games) in connection with the disposal of all outstanding shares to Stillfront Group AB
Setterwalls has advised the shareholders in Nanobit d.o.o. (”Nanobit”) in connection with the disposal of Nanobit to Stillfront Group AB (”Stillfront”).
Nanobit is a leading developer and publisher of mobile games based in Zagreb, Croatia with a focus on narrative lifestyle simulation role playing games (RPG) targeting a female audience. Nanobit is an established studio with 29 titles released, whereof 10 apps and 19 games, and more than 145 million lifetime downloads. Stillfront is a leading free-to-play powerhouse of gaming studios, listed on Nasdaq First North Premier Growth Market with headquarters in Stockholm, Sweden.
The upfront purchase price amounts to appr. USD 100 million, with a possible earn-out consideration of a maximum of appr. USD 48 million. Setterwalls acted as legal adviser to the sellers of Nanobit throughout the transaction process.