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.