Publisher Stillfront announced that it had acquired mobile game developer Jawaker for $205 million.
“We see significant scaling potential for Jawaker as a part of Stillfront, with opportunities to fuel user acquisition both in the MENA region and among the Arabic speaking population worldwide, leveraging Stillfront’s successful experience from marketing Babil’s games,” said Jörgen Larsson, CEO of Stillfront.
According to the deal, Stillfront will pay 74% of the amount in cash, and the remaining 26% will be paid in shares. The purchase is said to be completed on October 4th.
“We are very pleased to complete this directed share issue with such strong support from both existing and new shareholders. We continue to deliver on our vision to build the leading free-to-play powerhouse, and we are making great progress towards our long-term financial targets,” Larsson added.
Stillfront believes this acquisition will help them expand its games portfolio and grow its presence in the MENA (Middle East & North Africa) region.
Jawaker was founded in 2009 and specializes in card and board games for mobile devices, including Tarneeb, Baloot, Trix Complex, and more.
Stillfront is no stranger in the acquisition front. The company has been acquiring game developers for years now. In the past year and a half, the publisher acquired several game developers, including Candywriter and Nanobit.