Victoria-based game developer Kixeye has been purchased by Swedish game software studio Stillfront in a deal worth between $120 and $160 million CAD.
Kixeye is based out of Victoria with additional offices in the U.S., Vietnam, and Australia, and is a leading developer and publisher of massively multiplayer online real-time strategy games (MMORTS) for PC and mobile devices.
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The company’s main employees and managers, including Victoria native Head of Studio Clayton Stark, will retain their positions after the acquisition which will be completed by July 1st.
“We are very excited about the merger with Stillfront,” Stark said in a statement on Monday.
“Combining portfolios and leveraging our knowledge in live ops execution and innovative monetisation will be a great formula for success. We are very much looking forward to become part of the Stillfront family.”
Their products include War Commander, War Commander: Rogue Assault, Vega Conflict, and Battle Pirates, which is the top grossing game on Facebook.
Both companies specialize in free-to-play strategy games, and Kixeye generated over $18 million CAD profits in the first quarter of this year.
Stillfront will be purchasing Kixeye for $120 million CAD, with an additional $40 million CAD if the company meets certain financial targets in 2019.