Swedish firm Stillfront Group has acquired games publisher Babil Games to expand its presence in the Middle East and North Africa.
Stillfront will pay $4.5 million up-front, though the deal could rise to up to $17 million if certain performance targets are met. Agnitio Capital acted as financial advisor to Babil Games for the deal.
Babil’s founders will remain with the team and continue to lead the company moving forward.
Strong MENA presence
Babil was founded in 2012 with the aim to bring mobile games to Arabic audiences in the fast-growing MENA market.
It has published titles such as like Niba Harb 2, Asefat Al-Dababat, Jaish Al-Foolath and Admiral, and has two new games currently in the works.
Stillfront meanwhile develops and publishers a number of titles such as Unravel, Thirty Kingdoms and Call of War
”Babil and Stillfront constitutes an excellent fit," said Stillfront Group CEO Jörgen Larsson.
"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.”