Thunderful Group enters into an agreement regarding changes and payment of additional earn-out component in relation to the acquisition of Robot Teddy
Thunderful Group (”Thunderful”) announces today that an agreement has been entered into with the sellers of Robot Teddy to settle the additional earn-out components earlier than planned.
In accordance with previously communication, there was an opportunity for the sellers of Robot Teddy to receive an additional earn-out component in relation to the sale of the company which took place on October 27, 2021. In addition to the initial consideration, there was the possibility of additional earn-out components of maximum MGBP 12.0 which would be paid out provided that certain agreed-upon financial and operational targets were met on a yearly basis until 31 December 2025.
Thunderful can today state that an agreement has been entered into with the sellers of Robot Teddy to settle the additional earn-out components. Thunderful will pay 1 MGBP to the sellers in additional earn-out component in cash. No other additional earn-out components relating to the acquisition of Robot Teddy may be paid to the sellers.
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 below, at 20:00 CEST on 22 August 2022.
For more information, please contact:
Anders Maiqvist, Acting CEO, Thunderful Group, +46 739 37 24 36.
Lennart Sparud, CFO, Thunderful Group, +46 705 58 66 04
About Thunderful Group
Thunderful Group is a group of companies that develops, publishes and invests in games, while also distributing Nintendo products, games, game accessories and toys. The headquarters is located in Gothenburg, Sweden, with additional offices in Aarhus, Cologne, Copenhagen, Helsingborg, Helsinki, Hohenwestedt, Hong Kong, Karlshamn, Kungsbacka, Larvik, Madrid, Malmö, Newcastle, Skövde, Stockholm and Sunderland. The 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.