Business
29 March 2024 07:37
Thunderful Group has revealed plans to sell Headup Games in a deal worth €500k, thereby restoring ownership of the company to its initial founder. Under this agreement, ownership of Headup Games will transition from Thunderful to Microcuts Holding, a legal entity owned by the founder of Headup, Dieter Schoeller. The decision to divest began undergoing assessment as early as November 2023, aligning with Thunderful Group's revised strategy, which emphasizes publishing fewer but more substantial titles.
As part of the agreement, Thunderful will be entitled to a revenue share of up to €300k from a forthcoming undisclosed title. Although the deal has been concluded between the involved parties, its completion is dependent on factors. These include obtaining shareholder approval and revising three intellectual property-related contracts.
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