Thunderful Group subsidiary Coatsink signs new development agreements with Facebook subsidiaries

30 April 2021 · Attachments
Thunderful Group AB (”Thunderful Group”) today announces that their British subsidiary Coatsink Softward Ltd (”Coatsink Software”) has signed agreements with Facebook-owned companies for new and perennial game development and collaboration projects, at a total value exceeding 20 MUSD.

Coatsink Software has in recent years worked closely with Facebook Technologies LLC, the company behind leading VR headsets such as Oculus Rift, the wireless Oculus Quest and most recently Oculus Quest 2. Facebook Technologies LLC owns the trademark Oculus, and is wholly owned by Facebook Inc.

At 10:15 PM CEST today Facebook Inc announced the acquisition of Downpour Interactive LLC, the developer behind the VR game Onward, published by Coatsink Software. In conjunction with the acquisition, Facebook will also be the publisher of Onward.

Thunderful Group now announces that Coatsink Software has signed new agreements regarding development and collaboration with Facebook subsidiaries. The total value of the new agreements exceeds 20 MUSD, where payments will be distributed linearly as development milestones over 10 quarters, starting Q3 2021.

More details about the projects will be presented at a later date.

This information is such information as Thunderful Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above at 23:15 PM CEST on 30 April 2021.