Swedish mobile games group Stillfront Group has acquired Miami-based BitLife developer Candywriter for $74.4 million.
The initial investment sees Stillfront acquires 100% of Candywriter, with $37.5 million in newly-issued shares and $36.9 million in cash paid upfront. Including annual earn-out bonuses, the deal is worth up to a maximum of $195 million. Agnitio Capital acted as financial advisor to Candywriter on the deal.
Candywriter currently sees 1.2 million DAUs and 7.8 million MAUs of its flagship text-based life simulator BitLife. It has also developed word games Letter Soup and Letter Fridge, and the self-explanatory Adult Colouring Book.
“The acquisition of Candywriter is an excellent next step in further broadening our diversified portfolio, both in terms of genre, audience and addressable market, said Stillfront CEO Jörgen Larsson.
"Candywriter has developed a number of interesting apps and casual games since 2006 and with BitLife, they have created a unique game in the market, with 42m downloads to date. We look forward to merging our capabilities in different areas."
This is the second big acquistion for Stillfront in 2020, which kicked off the year by acquiring mobile developer Storm8 in a deal worth up to $400 million. It also acquired Kixeye back in June 2019 in a deal worth up to $120 million, a move that cost 20 jobs at the developer.