Swedish software developer Stillfront Group announced on Friday that it has acquired 100% of its Bulgarian rival Imperia Online AD for EUR 10 million. This is clear from the company's official announcement posted on its website.
The Bulgarian company founded in 2009 is one of the largest gaming companies in Southeastern Europe, with 25 products and 45 million users worldwide. The most popular game is the Imperia Online. The company is based in Sofia, there are about 50 employees. From the beginning of the year to the end of August, its net revenues amounted to EUR 4.1 million.
"Joining the Stillfront Group allows us to continue to develop new products, and we see this deal as the strategic next step for Imperia Online and we look forward to sharing experience and working in partnership with Stillfront Group's studio," said the Chief Executive Officer of the Bulgarian company Dobroslav Dimitrov.
The Swedish company, which has a market capitalization of USD 4.224 billion, is one of the leading companies in Europe, working with several subsidiaries - Germany, UK, Malta, the United States, the United Arab Emirates, Jordan and Romania. Among its main markets are Germany, the United States, France and the United Kingdom.
Source: Money.bg