June 3 (SeeNews) - US video games company Take-Two Interactive Software announced it has taken over Serbian peer Nordeus in a deal valued at $378 million (310.1 million euro), including potential earn-out.
“Our investment in Nordeus strengthens further Take-Two's mobile game business, is highly complementary to Social Point and Playdots, and broadens our sports portfolio with our first-ever soccer offerings," executive vice president Michael Worosz noted in a press release on Wednesday.
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Established in 2010, Nordeus is best known for Top Eleven, a mobile soccer management game with over 240 million registered users. Its portfolio of games also includes Golden Boot and Heroic.
The total transaction consideration comprises an upfront payment of $225 million in cash and $90 million in newly issued shares of Take-Two with the stock portion to be received by the Nordeus founding team. The takeover agreement also envisages a potential earn-out that is subject to certain performance milestones achievement.
New York City-headquartered Take-Two is a developer of interactive entertainment for consumers around the globe. Its products are designed for console systems and personal computers, including smartphones and tablets, and are delivered through physical retail, digital download, online platforms and cloud streaming services.
($=0.8204 euro)
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