Copenhagen, 12 June 2023
Trophy Games Development A/S acquires assets from the bankrupt Finnish game developer Bon Games, strengthening its position in the Transport Game genre. Bon Games’ “Transit King Tycoon” has achieved a remarkable milestone of over 5 million downloads on the Android platform, and is currently generating a monthly revenue of 20,000 EUR.
The game is a casual transportation game where you control trucks and ships to bring cargo back and forth in made-up cities, which is attracting a more casual and much broader audience and will complement our more mid-core games like Airline, Shipping and Train Manager.
This strategic acquisition aligns with Trophy Games' goals that we communicated as part of our Investor Day presentation back in May. More specifically, Transit King Tycoon will be leveraged as a valuable top-of-the-funnel cross-promotion tool for our transport series and our experts will also continue to explore opportunities to enhance its performance and strengthen the game's long-tail revenue potential.
The investment in this acquisition stands at 180,000 EUR paid in cash, representing approximately a 0.75x multiple on the yearly revenue. Interestingly, this transaction is our second venture this year into acquiring assets from bankrupt companies, demonstrating our adeptness at identifying and capitalizing on lucrative opportunities in the market. While we deliberately slowed down our acquisition activity last year in anticipation of more attractive deals during the economic downturn, we find the terms and pricing of this acquisition highly attractive.
This strategic move resembles our previous successful acquisition of Tiny Titan Studios, as we aim to revitalize a declining game through our expertise and resources. As part of our ongoing efforts to consolidate our Transport portfolio of games, we are launching Train Manager, and will soon start developing Truck Manager and Energy Manager.
Through these strategic acquisitions and focused game development, Trophy Games is steadily establishing itself as a prominent player in the transport gaming sector, strengthening its market position and driving sustainable growth.
This announcement does not impact our guidance for 2023.
TROPHY GAMES Development A/S
Søren Gleie, CEO
Office (+45) 7172 7573
Mikkel Bryggers Gade 4, 2. sal, 1460 Copenhagen K, Denmark
About Trophy Games
Trophy Games is an innovative, Denmark-based game studio that develops and publishes mobile and PC games.
Web page: https://trophy-games.com