Modern Times Group acquires majority stake in Snowprint Studios
Modern Times Group has acquired a majority stake in Snowprint Studios for an undisclosed sum.
The acquisition will see the digital entertainment company provide the Swedish-based studio with tools and knowledge to help it "diversify [its] revenues and expand [its] player base," said MTG group president and CEO Maria Redin.
"Snowprint Studios brings great experience in developing, launching, and growing mobile games as well as the proven ability to work successfully with global entertainment IP owners like Games Workshop and the Warhammer 40,000 franchise," Redin added.
Snowprint Studios CEO and co-founder Alexander Ekvall said: "MTG is the right home for Snowprint going forward, offering us both the freedom to continue building great games, and access to a broad toolkit that can help us speed up the growth of our portfolio."
Snowprint Studios was launched in 2015 by ex-King developers Ekvall and Patrik Lindegrén, focusing on mobile free-to-play midcore games. It has since launched titles including Legend of Solgard, Rivengard, and Warhammer 40,000: Tacticus.
In 2021, the developer received $15 million in investment from Hiro Capital, Happy Volcano, and Double Loop to help it expand.
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