10 December 2020
Gernandt & Danielsson has advised Modern Times Group in the acquisition of Hutch Games
Gernandt & Danielsson has advised Modern Times Group MTG AB (publ) in its acquisition of Hutch Games Ltd for a purchase price of USD 275 million and an earn-out based on Hutch Games financial performance in 2021-2024. Founded in 2011, Hutch is a London-based free-to-play mobile game developer with over 100 employees, focused on racing games in the midcore genre.
Part of the purchase price is to be paid in newly issued B shares in Modern Times Group MTG AB, provided that a general meeting approves such a new issue.
Gernandt & Danielsson's team has consisted of Partner Fredrik Palm, Senior Associates Oscar Anderson and Daniel Sveen, and Associate Arijan Kan.