Babil Games gets acquired by Stillfront Group
Four years after inception, leading MENA mobile-games publisher becomes part of the international gaming Group headquartered in Sweden
Stillfront Group AB (NASDAQ First North, SF) and Babil Games LLC today have announced the acquisition of 100% of the shares in Babil Games LLC (“Babil”), a leading mobile games publisher in the MENA region, with offices in Dubai/UAE and Amman/Jordan.
Babil, founded in 2012 by games professionals from Middle East and Europe focuses on bringing high quality mobile-games to the Arabic audience in the MENA (Middle East and North Africa) region, which is one of the fastest growing games markets worldwide. The games are primarily sourced from Asia with long term exclusive publishing rights. All localized content is Intellectual Property of Babil.
Babil has a track record of several successful highly grossing titles, like Niba Harb 2, Asefat Al-Dababat, Jaish Al-Foolath and Admiral, as well as an exciting pipe-line of two new titles reaching the market within the coming months.
The founders team of Babil will remain on board and lead the company also in the future, under the umbrella of Stillfront.
Under the terms of the deal, the purchase price for the shares in Babil is based on an upfront payment of USD 4’500’000 plus an earn-out subject to certain EBIT-targets being met, and can reach a total aggregate of USD 17,000,000. The purchase price is payable 50 per cent in cash and 50 per cent in newly issued shares in Stillfront.
Jörgen Larsson, CEO, Stillfront Group, comments
”Babil and Stillfront constitutes an excellent fit. We share the passion, philosophy and cornerstones of Stillfront’s PLEX strategy and Babil will strengthen Stillfront’s position in a number of strategic areas, for instance in the mobile strategy games space and with publishing capabilities. The truly unique position of Babil, now within our Group, will create significant value going forward. I am extremely pleased to have the founders and their committed team as valuable new members to the Stillfront family.”, Jörgen Larsson, CEO, Stillfront Group, comments.
Mohammed Fahmi, Founder and CEO, Babil Games, comments
“I am excited for Babil to be joining forces with Stillfront Group. We share a common vision and objectives, and I firmly believe this will be a great strategic advantage for both companies, enabling us to become a larger family that will strengthen our foothold in local and global markets.”
The acquisition is conditional upon the receipt of necessary approvals of the acquisition from Creative City Free-Zone Authority in the Emirate of Fujairah, U.A.E.
Agnitio Capital acted as exclusive financial advisor to Babil Games in this transaction.
About Babil Games
Babil Games is a leading publisher of mobile games with Arabic content in the MENA region. Established in 2012 by games professional Mohammed (“MJ”) Fahmi and tech-investor Hubertus Thonhauser, the two 50%-founding shareholders, Babil Games was designed to bring the best gaming experience to the fast growing Arabic audience by localizing international games titles and publishing them in Arabic.
Babil has a track record of several successful highly grossing titles, like Niba Harb 2, Asefat Al-Dababat, Jaish Al-Foolath and Admiral, regularly features at top-grossing games in MENA App- and Google-Play stores, as well as an exciting pipe-line of two new titles reaching the market within the coming months.
For further information please visit www.babilgames.com
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Stillfront is an independent creator, publisher and distributor of digital games – with a vision to become one of Europe’s leading indie game creators and publishers. Stillfront operates through four near-autonomous subsidiaries: Bytro Labs in Germany, Coldwood Interactive in Sweden, Power Challenge in the UK and Sweden, and Dorado Online Games in Malta. Stillfront’s games are distributed globally. The main markets are Sweden, Germany, the United States and South America.
For further information, please visit www.stillfront.com.