CTO - Take-Two acquires Nordeus for $378M in cash stock and potential earn-out deal

Take-Two Interactive Software (TTWO) has acquired privately-held Nordeus for up to $378M, comprising of $225M cash, $90M in newly issued company shares and earn-out consideration based upon Nordeus achieving EBITDA results above certain thresholds during each of the first two years.Cash portion was funded from company’s cash on hand. Founded in 2010, Nordeus is a mobile games company based in Belgrade, Serbia, best known for Top Eleven, the world’s most successful mobile soccer management game* with over 240 million registered users. “Our investment in Nordeus strengthens further Take-Two's mobile game business, is highly complementary to Social Point and Playdots, and broadens our sports portfolio with our first-ever soccer offerings," said Michael Worosz, Executive Vice President and Head of Strategy and Independent Publishing for Take-Two.Shares up 0.4% premarket.

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Take-Two acquires Nordeus for $378M in cash, stock and potential earn-out deal