Swedish group buys Romanian gaming company

Swedish independent gaming developer Stillfront Group acquired the Romanian firm eRepublik Labs in a deal worth EUR 7.5 million. The transaction value includes EUR 4 million in cash and EUR 3.45 million in Stillfront shares. eRepublik Labs is known for the eRepublik game, a massively multiplayer online role-playing game that can be played for free in the browser. The Romanian gaming firm was founded by entrepreneur Alexis Bonte in 2007. The firm launched the eRepublik game a year later. eRepublik has offices in Bucharest and Madrid. The company had revenues of EUR 2.5 million in 2016 and a profit margin of 20%. Stillfront representatives said that the management team of eRepublik will stay and will continue to manage the eRepublik game. editor@romania-insider.com