Fragbite Group: Transformative acquisition - Redeye

Yesterday evening, Fragbite Group announced that it acquired 100% of the shares in the gaming studio Fall Damage, founded in 2016 by individuals with backgrounds at DICE. The studio is developing the FPS game Alara Prime, scheduled for release in Q3 2024e. The acquisition expands and diversifies its revenue base while also opening up further synergies across the group. In connection with the acquisition, Fragbite completed a directed issue of cSEK22m while also issuing a loan of SEK20m to further finance the development of the game Alara Prime.

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