Stillfront Group revenue increased by 45 per cent to $142 million (1,325m kr) in 2018.

The company’s annual report for last year also showed that net profit was up 109 per cent to $16.8 million (157m kr).

The Stillfront Group consists of 11 companies around the world, including Goodgame Studios, Imperia Online, eRepublik Labs and Coldwood Interactive. In total these studios employ 500 staff.

Overall monthly active users across its portfolio hit 4.8 million, while it had one million daily active users.

The US, Germany, MENA, France and UK were the group’s best markets by revenue. Europe represented a 51 per cent share of sales, while North America represented 27 per cent and Asia 17 per cent.

M&A

The company plans to continue its acquisition strategy with further purchases in future.

“We are staffing up for more M&A activity and remain as confident as ever in our screening process and post-acquisition strategies,” said Stillfront CEO Jörgen Larsson.

“Our value acceleration agenda, combined with making acquisitions at multiples lower than our own, remain in place.”