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Thunderful Group Regulatory press release – September 2 , 2021 - Gothenburg Thunderful Group acquires Stage Clear Studios Thunderful Group AB acquires Spanish game developer Stage Clear Studios with 41 employees . Stage Clear Studios S.L. , founded in 2012 , is a well - established studio that develops games for PC and consoles . Their head office is located in Madrid , Spain . Stage Clear develops games from own concepts but also offer a broad spectrum of other services specializing in full - scale game development , graphics production as well as game porting , that is , creating versions of games so that they can be played on all platforms . Stage Clear Studios has established itself as a talented and reliable development studio with a reputation of delivering great products on time and on budget . Historic collaborations include titles like Jericho , Castlevania : Lords of Shadow , Planet51 , FIFA and Dead Space , to name a few . " The acquisition of Stage Clear Studios is fully in line with our strategy to grow our Games segment and the Group as a whole . Stage Clear are versatile : they've shown over the years that they can develop , improve and port ongoing projects , but they're also working on interesting game projects of their own . The acquisition strengthens our international position , broadens our network towards more development studios and creates synergies within the Group's development and publishing operations . We welcome our new co - workers in Madrid , who will work closely with their colleagues in the Nordics , UK and Germany " , says CEO Brjann Sigurgeirsson of Thunderful Group . Thunderful Group pays an initial consideration of EUR 1.0 million on a cash- and debt - free basis , whereof EUR 0.6 million are paid in cash and EUR 0.4 million are paid by set - off with new issued shares in Thunderful Group . The subscription price per share shall be the closing price for the Thunderful Group share on the 1 September 2021 ( SEK 62.70 ) , which , based on an exchange rate SEK - EUR of 10.193 on the same day , entitles the sellers to 65,025 shares in Thunderful Group . All newly issued shares are subject to a lockup period of 12 months . In addition to the initial consideration an additional earn - out component of maximum EUR 1.5 million can be paid out in cash provided that certain agreed - upon operational targets are met until June 30 , 2025. The total maximum consideration for the transaction is therefore EUR 2.5 million . During the period of January - December 2021 , Stage Clear Studios is expected to generate net sales to the order of EUR 2-2.3 million and an EBIT of EUR 0.5-0.6 million . Stage Clear Studios remains an independent game development company , and will be reported as part of the Thunderful Games segment . " In Spain we say that there are trains in life that you have to catch , and the opportunity to be part of Thunderful Group is such a train . When I met the Thunderful management and they told me about their plans , I knew we had to be part of it . We are very proud and excited to start this new adventure in Thunderful Group ! " says Stage Clear Studios CEO and co - founder Daniel Santos Fonseca . Thunderful Group AB Kvarnbergsgatan 2 411 05 Göteborg Page 1 of 2