MTG has increased its ownership in InnoGames, the developer of browser and mobile games, to 51 per cent. MTG announced its initial 21 per cent investment in Hamburg-based InnoGames in October 2016. InnoGames is the creator of six successful online games including Forge of Empires, Tribal Wars and Elvenar.
MTG has invested €82.6 million for the additional shares, based on the same enterprise value of €260 million for 100 per cent of the business as for the original investment. MTG will fully consolidate InnoGames with effect from May 1st.
InnoGames has generated compound annual revenue growth of more than 20 per cent over the past three years, and 25 per cent growth in 2016 to €130 million. The acceleration is being driven by the mobile gaming segment, with more than half of all new InnoGames user registrations being on mobile platforms, and several new mobile-only titles currently in development.