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

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).