Thunderful has sold its distribution business
pcgamesinsider.bizEuropean publisher Thunderful has divested its distribution business.
In an release to investors, the company said that it had sold this part of its business to a newly-formed outfit called Bergsala NPD AB. Thunderful has parted ways with AMO Toys AB, Bergsala Aktiebolag, Thunderful 1 AB and Thunderful Solutions AB as part of this deal.
Bergsala NPD is owned by Thunderful board member – and largest shareholder – Owe Bergsten.
The deal was announced back on May 21st and fully completed today (July 1st).
“I am pleased that we have found a solution that will put the company in a much stronger financial position as we will be able to fully amortise our credit facility and have sufficient liquidity to execute on our initiatives in the games segment,” Thunderful chair Patrick Svensk said at the time.
“Together with the restructuring initiatives announced on 17 January 2024, the transaction will enable us to focus on our mid- to long-term strategic objectives of creating shareholder value through growth in the games segment.”
This is the latest divestment that Thunderful has made. Back in March, the company sold off developer Headup to a company called Microcuts, owned and controlled by Headup boss Dieter Schoeller.
In January, the company announced it was laying off 20 per cent of its staff in a "restructruing" effort.
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