26th Aug 2022 18:06
(Alliance News) - tinyBuild Inc on Friday announced the acquisition of the intellectual property catalogue of Bossa Studios Ltd and the 'acquihire' of game development team Konfa Games.
'Acqui-hiring' is a term which describes the process of acquiring a company primarily to recruit its employees, rather than to gain control of its products or services.
The Washington, US-based indie games publisher said it acquired Konfa Games for up to USD5.4 million, consisting of upfront and deferred payments over the next three years.
The consideration is split as 40% in cash and 60% in tinyBuild shares. The firm said the deal would be "marginally accretive" in 2022 and from 2023 onwards. .
The consideration for Bossa's IP catalogue is an upfront payment of USD3 million, comprising of USD2.6 million in cash and USD450,000 in tinyBuild shares.
tinyBuild said the deal further expands is existing back catalogue and added that it has the option to improve Bossa's catalogue through potential spin-offs, sequels, and expansions.
Bossa owns games such as Surgeon Simulator and I am Fish. The franchise delivered total revenues of USD6.0m in 2021.
As with its Konfa Games acquisition, tinyBuild said it expects the Bossa IP acquisition to be "marginally accretive" in 2022 and from 2023 onwards.
Chief Executive Alex Nichiporchik said: "We continue investing into expanding our portfolio of own IP and today's deals are a unique opportunity to bring both Konfa's talented team of developers in-house and to add the amazing Bossa intellectual property to the tinyBuild portfolio."
"Alongside our existing titles, it allows us to maximize our long-term revenue potential, as well as gives our internal teams more established IP to choose from when considering next projects," he continued.
Shares in tinyBuild closed up 0.4% at 115.50 pence on Friday in London.
By Heather Rydings; [email protected]
Copyright 2022 Alliance News Limited. All Rights Reserved.
Related Shares:
Tinybuild Inc