Sweden-headquartered Russian operated G5 Entertainment (G5EN:Stockholm) has passed the 100 million downloads mark.

Once a casual PC developer, it switched quickly to mobile, publishing both inhouse and third-party titles, typically in the hidden object and casual strategy genres.

Indeed, it currently has over 200 apps on iOS, Mac Store, Google Play, Amazon Appstore and Nook Apps.

In celebration at the 100 million news, it's cut their price by 50 percent.

Only way is up

2012 was a strong year for G5, which saw its annual revenue rise 72 percent to over $12 million.

Its shares also rose, up 107 over the 12 months, making it the joint top performer in PocketGamer.biz's share rundown of 2012.

But it remains very ambitious with a long term goal of $45 million in annual sales (that's 300 million Swedish Krona).

And in order to hit that goal, it's planning to upgrade its current stock exchange listing to the Stockholm NASDAQ OMX. This larger exchange will increase share liquidity and provide better access to institutional investors.

G5 says as part of the listing process, it will consider whether it needs to raise further investment to ensure it takes full potential of growth opportunities.