Wednesday August 13,2014 : SOCIAL GAMES PROVIDER ACQUIRES NON-STOP GAMES
King Digital Entertainment pays $6 million upfront for Singapore-based games developer.
King Digital Entertainment has announced the acquisition of Singapore-based social games developer Non-Stop Games for a cash payment of $6 million and a possible future payment of up to $84 million contingent on the achievement of agreed performance targets.
King Digital recently posted Q2-2014 results showing revenues up 20 percent y-o-y to $594 million, but down on a quarterly sequential basis, which management attributed to lower returns from its flagship Candy Crush Saga title.
The company still managed to deliver Q2 profits up 31 percent y-o-y to $165 million, enabling management to declare a $150 million special dividend.