Swedish publisher Thunderful Group is pleased to announce that it has acquired consultancy firm Robot Teddy for close to $13.7 million.
The transaction consists of an initial cash payment of $9.6 million and an additional $4.1 million in shares to be reinvested in Thunderful. Furthermore, there will be an additional payment of approximately $16.5 million if certain financial targets are continually met until December 31st, 2025.
“The acquisition of Robot Teddy supports our strategy to grow our Games segment with “Thunderful Investment”, said Brjánn Sigurgeirsson, CEO of Thunderful Group. “Robot Teddy and their founder Callum Underwood have established a well-earned reputation for their work in the industry. They are exceptionally well-connected and keep their ears to the ground. Along with everything else they do, they will help us invest in superior games and studios”.
The acquisition of Robot Teddy is part of Thunderful’s plans of creating new investment and funding-focused division for the company. The new arm, called Thunderous Investment, will be part of the company’s two other pillars: games development and game publishing. As per the deal, Thunderful Investment will be led by Robot Teddy.
“I’m delighted to be joining Thunderful. Having them believe in our vision and goals, and understand the path we want to forge for self-published devs in the industry, is rare and wonderful.” said Robot Teddy founder Callum Underwood. “They’re giving us the support we need to develop and implement long-term plans that just wouldn’t be possible otherwise. We get to manage our own funds, we get to still work with all our clients, and we still get to be Robot Teddy. Hooray!”
Robot Teddy will continue providing consultancy and support to gaming companies including Among Us, Superhot, Gang Beasts, and more. The studio is currently collaborating with Fern Turtle on a new title, Viewfinder.
There won’t be any changes to the management at Robby Teddy. The studio will continue to be led by founder Callum Underwood and continue its partnerships with its partners and clients, including Among Us developer Innersloth, Gang Beasts developer Boneloaf, What The Golf? developer Triband, and many more.
Thunderful has been on an acquisition spree this year. The company bought Spanish developer Stage Clear Studios last month for €2.5 million.
In August, the publisher has also acquired game developer To The Sky and aims to pour an additional $5 million into the company for its first project. Thunderful also acquired film production company Tussilago for $115,000 the same month.