Karanovic & Partners has advised Take-Two Interactive on its acquisition of Serbian mobile game developer Nordeus.
Nordeus is based in Belgrade and is best known for Top Eleven, a mobile soccer management game with over 240 million registered users. Take-Two Interactive is a developer, publisher, and marketer of interactive entertainment, developing and publishing products through, among others, Rockstar Games, 2K, Private Division, Social Point, and Playdots.
According to Take-Two, the total consideration for the deal is up to USD 378 million in cash, stock, and a potential earn-out. It further informed that "the upfront price of USD 225 million is comprised of cash and USD 90 million in newly issued shares of Take-Two common stock."
“Our investment in Nordeus strengthens further Take-Two’s mobile game business, is highly complementary to Social Point and Playdots, and broadens our sports portfolio with our first-ever soccer offerings,” commented Executive Vice President and Head of Strategy and Independent Publishing for Take-Two Michael Worosz.
Karanovic & Partners’ team included Senior Partner Rastko Petakovic, Partners Milos Jakovljevic and Goran Radosevic, Senior Associate Marko Culafic, and Associate Miljana Tomic.
Karanovic & Partners did not respond to an inquiry about the deal.