Thunderful Group spins off operations of Nordic Game Supply

April 26, 2024 by No Comments

In a new Official blog post Today, Thunderful Group confirmed that it has entered into an agreement to divest the operations and assets of Nordic Game Supply.

Thunderful Group was initially formed in 2019 and Thunderful Games is known for developing and publishing indies. It published popular titles such as Steamworld Build and Planet of Lana. The latter game received a port for PlayStation and Switch earlier this month.

A company owned by Henrik Mathiasen, acting CEO of Nordic Game Supply, is the buyer for the divestiture of Thunderful Group. Mathiasen is also the CEO of Bergsala, which became part of the Thunderful Group in 2019.

In today’s blog, Thunderful Group cited “difficulties with profitability” as the main reason for redirecting operations at Nordic Game Supply. The company expects this to improve cash flows and reduce net debt.

If it has the intended effect, it will improve development on new projects and help prevent new layoffs. Layoffs in the gaming industry haven’t slowed down. Just this month, Take-Two Interactive announced layoffs affecting 5% of its employees, and Flaming Fowl recently lost more than half of its entire team.

The announcement addresses some common concerns, such as handing over personnel and IP to the buyer. It adds that once the transaction is complete, “Nordic Game Supply intends to cease its operations as soon as possible.” At this point, the future of Nordic Game Supply titles is unclear.

The deal is still “subject to shareholder approval,” Thunderful Group said.

For the latest insider gaming news, you can read about new details for the Nintendo Switch 2 online this week.

Leave a Comment

Your email address will not be published. Required fields are marked *