Russian internet company and games publisher Mail.Ru has acquired War Robots developer Pixonic for $30 million.
The deal will see Mail.Ru pay $20 million up front and a further $10 million depending on whether Pixonic hits certain KPIs.
The acquisition is expected to close in Q4 2016.
Big in Asia
Pixonic was founded in 2009 and now houses more than 100 employees. In the 2the first half of 2016 the company reported nearly $10 million in revenue.
The studio is best known for its mobile game War Robots, which has over 20 million installs, five million of which came in the last three months.
The game is said to be popular in both Eastern and Western markets. In order of popularity, the game has been most successful in the US, Japan, China, Korea, Germany and Russia.
Commenting on the acquisition Mail.Ru Group Chairman and CEO (Russia), said:
“We are very pleased to be adding one of the world’s most talented teams of mobile games developers," said Mail.RU Group CEO Dmitry Grishin.
"There is a clear strategic fit here and we look forward to working together to strengthen our international mobile games development and publishing and take the company’s games to even further success.”