Press Release July 23, 2019

Stillfront Group Acquires KIXEYE, Inc.

The Technology team advised KIXEYE Inc. in its acquisition by Stillfront Group AB.

Stillfront, a global group of gaming studios and a market leader in the free-to-play online strategy games genre, acquired 100 percent of the shares in KIXEYE, Inc., a leading developer and publisher of online strategy games headquartered in Canada, for $90 million USD on a cash and debt free basis. The sellers are entitled to a cash earn-out consideration if certain EBITDA levels for the financial year 2019 are achieved, which is subject to a cap of $30 million USD. As part of the transaction, the assets pertaining to the development of the massively multiplayer online game (MMO) product, Kingdom Maker, have been divested to Global Worldwide.

The Goodwin team was led by Caine Moss and Aly Simons and included partners Jim Riley, Fred Lim, Lynda Galligan, Koray Bulut and Paul Jin, counsel Jacqueline Klosek, Grace Wirth, Ai Tajima and Jacob Osborn, and associates Emma Mann-Meginniss, James Kim, Barzin Pakandam, Monica Patel and Stephen Taeusch.

For more details on the acquisition, read the press release.