MAG Interactive has received 80 million SEK ($9.7 million) in investment from Swedbank Robur's Microcap fund to close its acquisition of FEO Media.

The Microcap fund was launched in April 2017 to help a small portfolio of Nordic studios. It has more freedom to invest in projects than traditional mutual funds.

The investment allows MAG to secure its acquisition of FEO Media, announced in October 2017. The developer is best known for its games QuizDuel and PixDuel, which have a combined 100 million downloads.

Building brands

"We are very happy to work with Swedbank Robur to finalize the acquisition of FEO Media and continue to build these great brands and cater to our players," said Daniel Hasselberg, CEO of MAG Interactive.

"Investments like this help us play an active part of the consolidation in the games market. We pride ourselves on being a part in keeping a great intellectual property like QuizDuel in Swedish hands."

MAG's own games are continuing to enjoy success. Its Ruzzle franchise surpassed a combined 70 million downloads in February 2017.