Thunderful Sells Headup in €500,000 Deal

Thunderful has reached a deal to sell Headup to Microcuts Holding for €500,000. Microcuts Holding is controlled by Dieter Schoeller, who is not only the founder and CEO of Headup but also serves as Thunderful's vice president of production. Initially acquired by Thunderful for €11 million in 2021, Headup is now being sold back to its founder. The sale encompasses Headup's extensive library of approximately 80 titles, along with a development pipeline consisting of five upcoming games. As part of the agreement, Thunderful is set to receive a revenue share of up to €300,000 from a future, as-yet-unannounced title. Although the deal has been finalized, its completion is contingent upon several factors, including shareholder approval, the renegotiation of three contracts related to intellectual property, and the transfer of Studio Fizbin to Thunderful. Studio Fizbin, a German development studio, was acquired by Thunderful in 2023 through Headup for an undisclosed amount. This sale is part of Thunderful's broader restructuring efforts, announced in January, which include a staff reduction of 20%.