Storm8 acquired by Stillfront Group
Gunderson Dettmer client and leading mobile mash-up game developer Storm8 announced its acquisition by Stillfront Group, a global group of gaming studios and a market leader in the free-to-play online games genre, for a total upfront consideration of $300 million with up up to an additional $100 million if certain targets are met.
In the announcement of the transaction Storm8 CEO and cofounder Perry Tam said, “Since Storm8's founding in 2009, our team remains as excited as ever about the massive mobile games market opportunity. We are looking forward to working with Jörgen and the entire Stillfront team to take our games to new heights. Stillfront and Storm8 are a natural fit with a shared entrepreneurial culture and a commitment to greatness. Joining the Stillfront family is the next step in our journey to building the market leading free-to-play powerhouse.”
The Gunderson Dettmer deal team was led by Michael Irvine and Andrew Luh and included Mark Foster, Gina Marek, Sharon Hendricks, Jeff Goldman, Cathy Kwon, Geoffrey Wright, Peter Jung, Justin Peters, Laura Tong, Jie Wang and Lily Kim.