Stillfront Group to officially take over ‘Moonfrog’
On Tuesday, 2nd February 2021, Stillfront Group, the leading powerhouse of the well-known groups of gaming studios, announced its formal acquisition of Moonfrog. According to experts, with the inclusion of Moonfrog, the company looks forward to making its mark in the Indian subcontinent. It is a calculated move to enter the flourishing game market in India.
The proposed process:
Stillfront Group has drawn up an agreement to purchase all the available Moonfrog shares for $90 million. The occupancy will occur in 4 tranches. Preliminary, Stillfront would buy 91% of the Moonfrog shares for an initial consideration of $90 million. The amount shall be payable entirely in cash with the first tranche acquisition. The rest 9% of shares will be obtained through 3 tranches as ‘Deferred Tranches‘. The transaction will be closed as per the usual norms. It is likely to take place on 26th February 2021.
About Moonfrog:
Established in 2013, Moonfrog is a game studio based in Bengaluru. Ankit Jain, Oliver Jones, Tanay Tayal, Dimpalkumar Maisuriya, and Kumar Puspesh are among its founders. It concentrates on the social card and board games. It aims at improving the different aspects of mobile gaming for a better user experience.
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