In what could be the largest exit in the region’s gaming industry, Middle East-based game publisher Babil Games has been acquired by Sweden’s Stillfront Group.
The Swedish creator, publisher and distributor of digital games announced on December 16 that they had acquired 100 percent of Babil Games’ shares.
"Babil will strengthen Stillfront's position in a number of strategic areas, for instance in the mobile strategy games space and with publishing capabilities,” said Jörgen Larsson, Stillfront Group’s CEO in a statement released on the company’s website Friday.
“The truly unique position of Babil, now within our Group, will create significant value going forward,” he added.
Mohammed Fahmi, Abdullah Fahmi and Hubertus Thonhauser founded Babil Games in 2012.
Based in Amman and Dubai, the company has built a reputation for itself as a pure mobile games publisher with a focus on Arabic game content.
“Stillfront have great strengths in markets outside MENA,” Fahmi told Wamda. “Together we will do so many amazing things. From the development side, I think we will see great projects from talents in MENA, that will also have impact on the global market."
“For publishing, I think it’s getting harder each day, and that so many tried to do what we do but didn't have great success, but we are up to the challenges and babil games team will be up to it.”
High grossing titles for Babil include ‘Niba Harb 2’, ‘Asefat Al-Dababat’, ‘Jaish Al-Foolath’ and ‘Admiral’.
According to the Stillfront Group statement, Babil made revenues of $3 million during 2016, “with approximately 15 percent net profit margin”.
“It’s great news for publishers in the region,” said Joseph Shomali, CEO of Play 3arabi. “The exit proves the potential of the business. I personally believe there will be more in the future.”
Stillfront Group was also established in 2012 and distributes games globally with key markets as Sweden, Germany, UK and South America.
Babil’s founders will remain with the team and continue to lead the company moving forward.
Another notable exit within the gaming community in the region is Turkey’s Joygame, acquired in 2013 by Korea’s Netmarble, to then became Netmarble EMEA.
Feature image via Babil Games.
By Lucy Knight - source of article Wamda
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