Mobile game publisher Animoca Brands has acquired Finnish game development studio TicBits in a $5m deal. An initial payment of $3.5m will be made, and a further $1.5m will be paid on 2018, with the deal expected to complete on July 8.
TicBits is best known for Crazy Kings, and has been acquired by Animoca Brands
TicBits has nine employees and has released 13 games since its formation, with 11 million downloads to its name, and a monthly active user count of approximately 750,000. Its best known title is Crazy Kings, a tower defense game.
Hong Kong-based Animoca Brands sees the acquisition as a way into Europe, and intends to use TicBits game engines in its own titles, while increasing the advertising opportunities inside existing TicBits titles.