Stillfront Group completes the acquisition of Storm8, Inc.
Stillfront Group AB (publ) (“Stillfront”), a global market leader in free-to-play online games, has completed the acquisition of Storm8, Inc. (“Storm8”), which was announced through a press release on 21 January 2020. The upfront consideration which was paid to the sellers of Storm8 amounted to USD 300 million, on a cash and debt free basis. Of the upfront consideration, USD 75 million was paid through 1,909,222 newly issued shares in Stillfront. USD 75 million has been converted by applying a USD/SEK exchange rate of 9.4392 in accordance with the acquisition agreement and not the