tinyBuild Inc on Friday announced the acquisition of the intellectual property catalogue of Bossa Studios Ltd and the ’acquihire’ of game development team Konfa Games.
’Acqui-hiring’ is a term which describes the process of acquiring a company primarily to recruit its employees, rather than to gain control of its products or services.
The Washington, US-based indie games publisher said it acquired Konfa Games for up to $5.4 million, consisting of upfront and deferred payments over the next three years.
The consideration is split as 40% in cash and 60% in tinyBuild shares. The firm said the deal would be ‘marginally accretive’ in 2022 and from 2023 onwards. .
The consideration for Bossa’s IP catalogue is an upfront payment of $3 million, comprising of $2.6 million in cash and $450,000 in tinyBuild shares.
tinyBuild said the deal further expands is existing back catalogue and added that it has the option to improve Bossa’s catalogue through potential spin-offs, sequels, and expansions.
Bossa owns games such as Surgeon Simulator and I am Fish. The franchise delivered total revenues of $6.0m in 2021.
As with its Konfa Games acquisition, tinyBuild said it expects the Bossa IP acquisition to be ‘marginally accretive’ in 2022 and from 2023 onwards.
Chief Executive Alex Nichiporchik said: ‘We continue investing into expanding our portfolio of own IP and today’s deals are a unique opportunity to bring both Konfa’s talented team of developers in-house and to add the amazing Bossa intellectual property to the tinyBuild portfolio.’
‘Alongside our existing titles, it allows us to maximize our long-term revenue potential, as well as gives our internal teams more established IP to choose from when considering next projects,’ he continued.
Shares in tinyBuild closed up 0.4% at 115.50 pence on Friday in London.
Copyright 2022 Alliance News Limited. All Rights Reserved.
