Sweden's Zordix to take over Romanian game studio Fun Labs

BUCHAREST (Romania), February 8 (SeeNews) - Swedish gaming group Zordix said that it is in the process of taking over the assets of the Romanian game studio Fun Labs through its newly established global entertainment company Maximum Entertainment.

The acquisition will complement Zordix' restructured development division Modus Studios by adding new developers to the team, the group said in a press release on Tuesday.

"The addition of the Fun Labs team to Modus Studios and Maximum Entertainment is expected to finalise in the coming weeks and is fully aligned with our strategy of increasing internal studio capability to meet our goal of 30% of the revenue generated by our own IP by 2025" said CEO of newly established Maximum Entertainment, Christina Seelye.

The company did not disclose the value of the transaction.

Also on Tuesday, Zordix announced that its U.S.-based subsidiary Maximum Games has secured a $30 million (27.9 million euro) senior credit facility which will be used to refinance existing debt, investment in owned IP games, and to pursue accretive acquisitions.

Maximum Entertainment was established by Zordix Group and has more than 300 game titles in its portfolio. The company employs more than 200 people.

Fun Labs is a Romanian game studio, established in 1999. The studio has delivered more than 50 game titles across 12 platforms, according to its website.

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