Innova, a Russian company engaged in localizing and publishing online games, no longer acts as an independent unit. It was bought by Swedish video game holding company Enad Global 7, based in Stockholm. The holding will buy back 100% of Innova Intellectual Property at a combined price of about 110 millions of euros.
The transaction will be completed by the end of the first quarter of 2021. It is carried out within the framework of the long-term strategy of EG7 to expand its position in the industry and should give the company access to Asian markets.
Some time ago the concern already bought out the company Daybreak Game Company, Big Blue Bubble and Piranha Games. Now under its wing about 200 employees in offices in Luxembourg and Russia, as well as intellectual property in the form of Lineage 2, Ragnarök Online, Point Blank and other games.
In a press release noted that for the 12-month period ending December 31, 2020, Innovas net revenue was approximately 33. 3 million euros.
Profit was about 13. 6 million euros.
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