Swedish firm Stillfront Group has acquired 51% of browser-based German sports management game OnlineFussballManager.dein an all-cash deal worth $735,000 (€639,000).
OnlineFussball Manager was founded in 2006 by Maik Dokter, who will continue to own the remaining 49% of the newly OFM Studios.
Run by just three people, the game is said to have brought in revenues of €1.1 million ($1.27 million) in 2016.
Doubling down
Stillfront has also pushed further into the sports management genre by signing a co-publishing deal with Digamore Entertainment for its new mobile game Football Empire, set to launch by the end of 2017.
The Swedish firm has the option to acquire 51% of all outstanding shares in Digamore, as well as its subsidiary Football Empire Studios, for €3 million ($3.45 million).
“Our determined and long-term efforts to create a diversified portfolio of studios and games, has paid off through solid financial performance,” said Stillfront CEO Jörgen Larsson.
“The newly issued corporate bond secures financial resources for continued profitable growth, both organically, through acquisitions of exciting businesses and entering publishing agreements.”
Stillfront has struck a number of deals since the turn of the year, including its $8.4 million purchase of eRepublik Labs and acquisition of MENA publisher Babil Games in a deal that could rise up to $17 million.
