Mag Interactive’s IPO shows Europe’s mobile game industry is strong

Mag Interactive went public today at a market valuation of $137 million. It’s the Swedish company behind the hit puzzle word game Ruzzle.

The company and its shareholders sold 11.3 million shares to the public and raised an estimated $21.6 million in net proceeds. The offering is one more example of how Europeans are seeing great success in mobile games and how that is resulting in wealth-creating transactions. In 2016, Tencent acquired control of Supercell in a deal that valued the maker of Clash Royale at $10 billion. Angry Birds maker Rovio also went public, as did Next Games and Nitro Games. Atomico recently crunch numbers and found that Europe accounts for 35 percent of game funding rounds, or more than any other region. The Nordic region in particular has had great success.