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MTG buys 35% of online games company InnoGames

Thursday 13 October 2016 | 10:39 CET | News
Modern Times Group (MTG) has signed an agreement to acquire 35 percent of Hamburg, Germany-based online games developer and publisher InnoGames from the company's founders and Eight Roads Ventures. The deal is based on an Enterprise Value of EUR 260 million for 100 percent of the company, with MTG holding an option to acquire a further 16 percent of the company at the same valuation. The 35 percent stake is being acquired in two tranches: 21 percent in Q4 2016 and 14 percent in Q1 2017. InnoGames expects revenue of around EUR 125 million in 2016 and has 150 million registered users worldwide.

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Categories: Internet
Companies: InnoGames / Modern Times Group
Countries: Germany / World
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