Thunderful Group subsidiary Coatsink signs new development agreements with Facebook subsidiaries
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.
For more information, please contact:
Brjann Sigurgeirsson, CEO, Thunderful Group
Phone: +46 708 16 16 32
About Coatsink Software
Thunderful Group's subsidiary Coatsink Software, headquartered in Sunderland in the north of England, was founded in 2013 and is today a well-established game developer and publisher active on all major platforms; consoles, PC, VR and mobile. Coatsink Software has, among other things, made itself known through successful launches and collaborations, not least in VR, around titles such as Shadow Point, Gang Beasts, Onward and Jurassic World Aftermath. In 2020, Coatsink Software's sales amounted to approximately SEK 140 million. Thunderful Group acquired Coatsink Software in October 2020.
About Thunderful Group
Thunderful Group is primarily a Nordic group of companies active in development and publishing of games and distribution of, i.e., Nintendo products, games, game accessories and toys. With headquarters in Gothenburg and additional offices in Sunderland, Karlshamn, Kungsbacka, Aarhus, Skövde, Cologne, Helsinki, Malmö, Helsingborg, Copenhagen, Larvik, Hohenwestedt and Hong Kong, Thunderful Group's overall goal is to provide high-quality entertainment products for people of all ages. Thunderful Group is listed on Nasdaq First North Premier. FNCA Sweden AB is appointed Certified Adviser, email@example.com, +46(0)8-528 00 399.