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The listed Swedish Thunderful Group AB has entered into a share purchase agreement for the sale of its German video game publishing subsidiary Headup Games GmbH to Microcuts Holding GmbH. The renowned video game developer and publisher was again legally advised on this transaction by a Fieldfisher team led by Corporate Partner Dr Sven Labudda.
With the sale of its publishing subsidiary Headup Games, Thunderful is taking an important strategic step as part of a comprehensive reorganisation. In the future, the company intends to concentrate more on publishing fewer and larger titles.
With Dieter Schoeller's German Microcuts Holding GmbH, Headup Games GmbH is gaining a new owner it is already familiar with: in 2021, the Düren-based video game publisher was sold by its founder Schoeller to Thunderful, which was already back then legally supported by a team led by Corporate Partner Dr Sven Labudda. With this transaction, both parties have now completed the buyback almost three years later. It is still subject to approval by Thunderful's shareholders at an extraordinary general meeting.
The acquisition comprises a total portfolio of around 80 titles and a pipeline of five games, including financing commitments and the transfer of further titles to Headup Games GmbH. The Thunderful Group will participate in the revenues of a future game that has not yet been announced. In addition, a subsidiary of Headup Games GmbH will be transferred to the Thunderful Group before closing of the transaction. The transaction also includes the settlement of existing earnout liabilities.
A Fieldfisher team led by lead Partner Dr Sven Labudda provided Thunderful Group AB with comprehensive legal advice on all corporate and tax law issues in this complex transaction.
Thunderful Group AB is a Swedish company with headquarters in Gothenburg and offices in numerous major cities worldwide, which is active in the development, publishing and investment in video games. The group has a particularly strong presence in the Nordic region and, through its subsidiary Bergsala, has unique market experience with a 40-year distribution agreement with Nintendo.
Fieldfisher:
Dr Sven Labudda (Partner, Lead), Dr Johannes Knop (Counsel, Co-Lead), Maximilian Franz (Associate, all Corporate), Dr Bahne Sievers (Counsel), Dr Johannes Baur (Associate, both Tech & Data), André Suttorp (Partner), Matthias Jungeblut (Senior Associate, both Tax).