My.Games has acquired a controlling stake in mobile game studio Deus Craft for as much as $49.1 million.
The deal gives My.Games, the gaming division of Russia’s Mail.ru Group, control of 51.1% shares of Deus Craft. It includes an upfront, payment of $14.1 million and a deferred payment of up to $35 million payable in April 2021. It’s one more sign of massive activity for games acquisitions during the pandemic.
The payout will go through only if the studio reaches monthly revenue of $15 million by the end of the first quarter of 2021, but the transaction is expected to be completed this month.
Deus Craft has offices in Moscow, St. Petersburg, and Novosibirsk in Russia, and the company employs more than 70 people. It released Grand Hotel Mania in July, and in August, the studio said it ranked second among mobile games in terms of revenue in the time management category on iOS and Android. Deus Craft said the game was particularly successful in the United States, which accounted for over 50% of the product’s total revenue in September.
Deus Craft has two more mobile games in development, both due out within the next 12 months. Since 2016, My.Games has completed 31 deals with partner studios in 14 cities around the world.