Setterwalls has assisted Thunderful Group in connection with the acquisition of the British game development studio Jumpship

Setterwalls has assisted Thunderful Group AB in connection with the acquisition of Jumpship Ltd, who launched its first game, the sci-fi adventure Somerville, on November 15.

Thunderful is paying an initial consideration of 6 MGBP on a cash- and debt-free basis. In addition to this initial consideration, an additional earn-out component of up to 24 MGBP for the period November 2022 to December 2027 may be payable to the sellers. The sellers may receive a maximum of 50% of EBIT per financial year until an accumulated EBIT of 12 MGBP has been reached. For EBIT in excess of 12 MGBP and up to 24 MGBP, an amount of 75% of EBIT per financial year will be paid. Thunderful will also make sure that existing shareholder loans totalling 2 MGBP are repaid to the relevant shareholders.