Swedes Acquired Ukrainian Studio “Game Labs” for $32.5 million

by Meifan Honcharuk
Wednesday, December 15, 2021
Swedes Acquired Ukrainian Studio “Game Labs” for $32.5 million

If the company shows good financial performance, then in the next three years it will be able to count on an additional cash bonus

The Swedish holding Stillfront has acquired the Ukrainian studio Game Labs. It is noted that $9.75 million was paid in shares of the holding.

Game Labs has developed games such as Ultimate General, Naval Action, Ultimate Admiral: Age of Sail, and This Land is My Land.

  • Ultimate General is a series of computer war games from the American Civil War focusing on tactics and military history;
  • Naval Action is a realistic naval battle game that takes players back to the most beautiful period in history — the era of sailing ships;
  • Ultimate Admiral: Age of Sail is a investing-in-ukraine/service-for-investors/strategy-development/" rel="dofollow">strategy game developed by Game-Labs for the PC platform;
  • This Land Is My Land is a single-player survival game from Game-Labs. The project allows you to look at the life of the Indians in the colonial era from the inside;
  • Game Labs was founded in 2013. Her team employs 30 people from Ukraine, Russia, Greece, Dubai, Italy and Estonia.

Stillfront expects Game Labs' revenue to range from $8.3 million to $9.5 million in the current fiscal year.

Last year, another Ukrainian studio, 4A Games, was bought by another Swedish holding, Embracer Group, with publishers such as THQ NordicDeep Silver, Coffee Stain, and Saber Interactive. The deal was worth almost $36 million. $25 million was paid in cash, and the rest was given in shares.

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