Press release
Take-Two Interactive Software to Acquire Mobile Games Developer Nordeus
Total consideration of up to $378 million in cash, stock, and potential earn-out Acquisition bolsters Take-Two’s mobile business and expands sports offerings
About this update from Take-two Interactive Software, Inc.
[{"type":"text","content":"\nTotal consideration of up to $378 million in cash, stock, and potential earn-out\n\n Acquisition bolsters Take-Two’s mobile business and expands sports offerings with Top Eleven - soccer management game with over 240 million registered users\n\n NEW YORK--(BUSINESS WIRE)--\nTake-Two Interactive Software, Inc. (NASDAQ:TTWO) today announced that it has acquired privately-held Nordeus for up to $378 million. The upfront price of $225 million is comprised of cash and $90 million in newly issued shares of Take-Two common stock. The Nordeus founding team will receive the stock consideration and continue to run the company. The cash portion was funded from Take-Two’s cash on hand. The number of Take-Two shares will be calculated by dividing $90 million by the weighted average closing price per share on the Nasdaq Global Select Market during the thirty trading day period ending on the second trading day prior to the closing date. The cash portion of the purchase price is subject to standard closing adjustments. In addition, the agreement also includes earn-out consideration based upon Nordeus achieving EBITDA results above certain thresholds during each of the first two years. Take-Two's acquisition of Nordeus is the Company's latest strategic initiative to bolster its mobile business following the 2017 and 2020 acquisitions of Social Point and Playdots, respectively, which are overseen by Nir Efrat, Senior Vice President and Head of Mobile for Take-Two.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210602005247/en/Branko Miluntinović, CEO and co-founder of Nordeus (Photo: Business Wire)\nFounded in 2010, Nordeus is a mobile games company based in Belgrade, Serbia, best known for Top Eleven, the world’s most successful mobile soccer management game* with over 240 million registered users. Top Eleven provides players with a platform for creating and managing their own soccer clubs, while leading them through daily competitions with a global community. The evergreen title continually entertains players through innovating gameplay formats, events, and features – with additional enhancements to come. In addition, Nordeus is developing their future soccer-related mobile titles and technology. Nordeus is led by its co-founders, Branko Milutinović (CEO), Milan Jovović (CCO), Iva...