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DLA Piper and Orrick Advise on Stillfront Group’s Acquisition of Game Labs Inc

DLA Piper and Orrick Advise on Stillfront Group’s Acquisition of Game Labs Inc

Ukraine
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DLA Piper has advised the Stillfront Group on its acquisition of 100% of the shares in Game Labs Inc. from its unidentified founders and management. Orrick advised the sellers on the deal.

The transaction combines an upfront consideration of cash and shares including USD 32.5 million payable in cash, out of which USD 9.75 million is payable in 981,813 of Stillfront’s newly issued shares.

In addition, the sellers may receive an earn-out payment for each of the 2021, 2022, and 2023 financial years, depending on the EBIT development of Game Labs during each of those financial years, though not exceeding USD 30 million in aggregate. The earn-out consideration will be payable 70% in cash and 30% in newly issued shares in Stillfront during the subsequent year of the respective earn-out period.

Game Labs is an independent game studio with a team of approximately 30 people located in Ukraine, Russia, Greece, UAE, Italy, and Estonia.

Stillfront is a Stockholm-based developer of free-to-play strategy online games.

DLA Piper’s team in Ukraine consisted of Partner Alla Kozachenko, Legal Directors Anastasiya Bolkhovitinova and Natalia Kirichenko, and Associates Ivan Shatov and Anna Vizniak.

Orrick’s team included US-based Partners Bryan Gadol, Glenn Dassoff, Joe Urwitz, Eric Wall, Daniel Forester, Amanda Galton, Tim Greene, and Lisa Lupion, Managing Associates Nicole Huang and Julien Barbey, and Of Counsel Wendy Kottmeier; and UK-based Partners Faraaz Samadi, Katie Cotton, and Amanda Voss, Corporate Associate Aoife Casey, and Trainee Solicitor Chloe Palios.

DLA Piper at a Glance

DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa and Asia Pacific, helping clients with their legal needs around the world. We strive to be the leading global full-service law firm by delivering quality and value to our clients. With practical and innovative legal solutions, we help our clients succeed.

In Central and Eastern Europe (CEE), DLA Piper continues to grow and now employs more than 320 lawyers, including 46 partners across its six offices in Austria, the Czech Republic, Hungary, Poland, Romania and Slovakia. With our global set-up and established relationship firms across all other CEE jurisdictions, we are among the largest and most experienced international law firms in the region. Through our experience gained advising on a variety of high-profile projects and the long-term relationships we have established with our clients, we have built a reputation as a leading business law firm across CEE.

Firm's website.