Setterwalls has assisted Thunderful Group in connection with the acquisition of the Spanish game development studio Stage Clear Studios S.L.

Setterwalls has assisted Thunderful Group (“Thunderful”) in connection with the acquisition of Stage Clear Studios S.L., a well-established game development studio engaged primarily in the development of games for PC and consoles.

Thunderful pays an initial consideration of EUR 1.0 million on a cash- and debt-free basis, whereof EUR 0.6 million are paid in cash and EUR 0.4 million are paid by set-off with new issued shares in Thunderful. In addition to the initial consideration, an additional earn-out component of maximum EUR 1.5 million may be paid out in cash. The total maximum consideration for the transaction is EUR 2.5 million.