Thunderful Group acquires Coatsink Software

Thunderful Group AB (“Thunderful” or the “Group”) acquires 100 percent of the British development studio Coatsink Software Ltd (“Coatsink”) for an upfront consideration of GBP 23 million plus an earn-out component potentially resulting in a maximal total consideration of GBP 65.5 million. Following the transaction co-founders and several key employees of Coatsink will become shareholders in Thunderful.Coatsink, headquartered in Sunderland, UK, was formed in December 2009 by Tom Beardsmore and Paul Crabb. Today it is a diverse and versatile development studio and publisher, which has built a