Media And Games Invest Acquires Free-To-Play Mobile Developer AxesInMotion

Big video game holding firms continue to divvy up video game companies amongst themselves Media and Games Invest (MGI) acquires yet another studio.

MGI, which also happens to be Gamigo’s parent company, has bought Spanish mobile game developer and publisher AxesInMotion to the tune of €55 million, or roughly $58 million, with up to €110 million in potential payouts until the end of 2024.

AxesInMotion’s portfolio includes popular free-to-play mobile titles such as Sniper 3D, Car Stunt Races, and Extreme Car Driving Simulator which has been downloaded over 300 million times since it first came out in 2015. The studio’s revenue mainly comes from in-app advertising which MGI hopes to leverage to strengthen its “Ad-Software-Platform” using data collected from Axes’ 700 million users. Yikes.

MGI’s Q4 2021 financial report showed a whopping 65% increase quarter-over-quarter and an 80% increase year-over-year which the company to its transition to a first-party advertising software platform.