case / 27 Oct 2021

Setterwalls has assisted Thunderful Group in connection with the acquisition of the British business and strategy development agency Robot Teddy.

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Setterwalls has assisted Thunderful Group AB (“Thunderful”) in connection with the acquisition of Robot Teddy, a consulting agency who manages business and strategy development for multiple eminent video games and studios.

Thunderful paid an initial cash consideration of GBP 7 million on a cash- and debt free basis and and an additional consideration by way of new issue of Thunderful shares corresponding to an amount of GBP 3 million. In addition to the initial consideration, an additional earn-out component of maximum GBP 12 million may be paid to the sellers, with a maximum of GBP 4 million in newly issued shares and the remaining amount in cash. The total maximum consideration for the transaction is GBP 22 million (on a cash and debt free basis).

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