MTG Ups Investment in InnoGames


STOCKHOLM: MTG has completed its previously announced acquisition of 21 percent of the global online games developer and publisher InnoGames, which it is now purchasing an additional 14-percent stake in.

The acquisition of 35 percent of InnoGames in total is based on a total enterprise value of 260 million euros ($275 million) for 100 percent of InnoGames. MTG has the right to acquire a further 16 percent of the company at the same valuation up until the end of September 2017, as well as options to increase the shareholding further over time.

Jørgen Madsen Lindemann, MTG’s president and CEO, said: “Our MTGx division is now present in three complementary digital storytelling verticals, each of which offers truly global potential. InnoGames is a perfect fit for our strategy of investing in relevant, complementary and scalable digital brands, content and communities. We are looking forward to working with the talented InnoGames team to build on their successful track record.”