Fragbite Group acquired Dutch-based Lucky Kat for €7 million ($7.8 million).
Founded in 2015 by brothers Herdjie and Hernan Zhou, the studio focuses on creating everyday games and has amassed more than 200 million downloads in its portfolio.
Of the total, €5 million ($5.6 million) will be paid in cash and the remaining €2 million ($2.2 million) will be paid in Fragbite shares. An additional purchase price of €11 million ($12.3 million) may also be paid, depending on Lucky Kat’s financial results over the next two years.
Lucky Kat CEO Herdjie Zhou added: “We are proud and excited to join the Fragbite group as we accelerate our growth in mobile gaming.”
