Portfolio update: Snap projects expected to discontinue

Nitro Games does not expect a direct financial impact as a result of Snap.Inc restructuring their business.

Nitro Games has learned that Snap.Inc has decided to discontinue investments on several fronts, including games, as part of the restructuring of their business. The expected direct financial impact to Nitro Games as a result of this is estimated to be less than 100,000 EUR and therefore not significant.

“Unfortunately, we’ve learned that Snap.Inc is restructuring their business. This is not impacting our roadmap or goals for the year. We thank them for the collaboration and wish them all the best, as we move on with our core business and the upcoming game launches,” says Jussi Tähtinen, CEO & Co-Founder of Nitro Games.

Nitro Games has two ongoing almost completed development projects with Snap.Inc and two previously released instant games on the Snapchat platform. These projects are part of the exploration of new emerging opportunities and not part of the core business of Nitro Games. Therefore, the expected operational and financial impact to Nitro Games is not significant. As a result of the announced restructuring by Snap.Inc, Nitro Games expects the ongoing projects to discontinue.

For more information about Snap.Inc, visit https://newsroom.snap.com/en-GB