Astragon Acquired Independent Arts Software for up to €3.5m

In April 2023, astragon Entertainment acquired Independent Arts Software. At the time, the acquisition sum was not disclosed, but it is now. The value of the takeover is up to 3.5 million Euros.

Almost one year ago, on 27 April 2023, astragon Entertainment acquired 100 per cent of the share capital of Independent Arts Software. astragon paid up to 3.5 million Euros for the North Rhine-Westphalian company. The initial payment for the acquisition were 2.0 Million Euros in cash. A further payment of up to 1,5 Million Euro is payable in cash based on meeting certain performance requirements following completion of the acquisition. These conditions have not been disclosed.

The financial performance of Independent Arts Software has not been dannounced, as it was wholly immaterial to the results for the year ended 31 December 2023. The company was acquired in order to provide development support to the astragon cash generating unit, which specialises in simulation games. astragon Entertainment is part of the UK-based Team17 Group.

Construction Simulator 4, due for release on 28 May on Switch and Mobile, is being developed by Independent Arts Software. The company is one of Germany's oldest development studios. It was founded in 1990 by Holger Kuchling, who is still the CEO. Over the years, astragon has successfully collaborated with Independent Arts on various projects such as console ports of Construction Simulator 2 & 3 and Fishing: Barents Sea. Independent Arts has also ported several games for Kalypso Media and Daedalic Entertainment.

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