MTG completes the acquisition of Hutch Games Ltd.
STOCKHOLM, December 18th, 2020 – Modern Times Group MTG AB (publ.) (“MTG”) has completed the previously announced acquisition of 100% of Hutch Games Ltd. (“Hutch”), a leading developer and publisher of free-to-play mobile games focused on the racing genre in the midcore segment, for an up-front consideration amount of USD 275 million (on a cash and debt free basis) and earn-out payments at an expected value of USD 100 million in aggregate.MTG’s acquisition of Hutch was announced December 8, 2020