Thunderful Divests Distribution Business
European publisher Thunderful has announced the divestment of its distribution business. The company revealed in a release to investors that it has sold this part of its business to Bergsala NPD AB, a newly-formed outfit. As part of the deal, Thunderful has parted ways with AMO Toys AB, Bergsala Aktiebolag, Thunderful 1 AB, and Thunderful Solutions AB.
Bergsala NPD AB is owned by Thunderful board member and largest shareholder, Owe Bergsten. The transaction was initially announced on May 21st and has now been fully completed as of July 1st.
Thunderful chair Patrick Svensk expressed his satisfaction with the deal, stating, “I am pleased that we have found a solution that will put the company in a much stronger financial position as we will be able to fully amortise our credit facility and have sufficient liquidity to execute on our initiatives in the games segment.”
This divestment is part of Thunderful’s strategic restructuring efforts. Earlier this year, the company sold off developer Headup to Microcuts, owned by Headup boss Dieter Schoeller. In January, Thunderful also announced a staff reduction of 20% as part of its restructuring plan to focus on creating shareholder value through growth in the games segment.
