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Thunderful Group

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314:, Amo Toys, and Nordic Game Supply—with Thunderful, creating the Thunderful Group. The new company was organised into three operational groups: Thunderful Development, containing Image & Form and Zoink; Thunderful Publishing, containing Thunderful Publishing AB and Rising Star Games; and Thunderful Distribution, containing Bergsala, Amo Toys, and Nordic Game Supply. The group remained under the shared ownership of Bergsala Holding, Sigurgeirsson and Lyngeled, and kept its headquarters in Gothenburg. Sigurgeirsson, who became Thunderful Group's CEO, stated that the merger was highly beneficial but evidenced that further financing was needed for future growth, leading Thunderful Group to eye an 40: 325:. Through the buyout, Thunderful Games' employee count rose to 170. Later that year, Thunderful Group merged Image & Form, Zoink, and Guru Games to form Thunderful Development AB. Thunderful Development opened a fourth studio in Malmö that June. In September 2020, the company opened an online merch store. Thunderful Group acquired the British studio Coatsink for about 294:(CCO), respectively, of Thunderful, while both remained CEOs of their respective studios. The move was announced in January 2018, at which point Thunderful had 46 employees. Alongside the merger, a publishing arm called Thunderful Publishing AB was set up to handle third-party game publishing. Ed Valiente, the former 391:
Thunderful Groups formerly had two operational groups: The Distribution group containing the distribution businesses, and the Games group covering the development, investment, and publishing of games. As of July 2024, the distribution business was divested, transforming the company into a "pure-play
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In August 2021, Thunderful Group acquired 91% of Jugo Mirkovic's development studio To the Sky for a symbolic fee, as well as the film studio Tussilago for 1 million kr. In September 2021, Thunderful Group acquired Madrid, Spain-based developer Stage Clear Studios in a deal worth up to €2.5
375:, for an undisclosed sum. On January 17, 2024, Thunderful cut 20% of its workforce, amounting to around 100 layoffs. In March 2024, the Thunderful Group announced its plan to divest HeadUp Games and later in April 2024, it was announced that Nordic Game Supply will also be divested. 1486: 306:
for Thunderful Publishing. That July, Thunderful acquired Rising Star Games from Bergsala Holding. Valiente subsequently became the managing director for Rising Star Games, replacing the departing Martin Defries, while retaining his previous positions.
343:. The company began trading on 7 December 2020. In its 2020 fiscal year, the company recorded a 46% rise in revenues alongside a fall of net profit by 20%. Thunderful Group announced that it would acquire German publisher and developer 378:
In May 2024, Thunderful announced they would close Stage Clear Studios as part of a restructuring effort. It was also announced that Thunderful Group plans to divest the complete distribution business, which includes AMO Toys and
1431: 904: 267:, Sigurgeirsson and Lyngeled met frequently due to the small size of Gothenburg's indie scene. Among other things, Image & Form and Zoink shared testing activities and marketing capabilities. In 2011, 216:, Amo Toys, and Nordic Game Supply. The former Thunderful had been founded in December 2017 between Bergsala Holding, Brjánn Sigurgeirsson, and Klaus Lyngeled, incorporating Sigurgeirsson and Lyngeled's 1076: 1007: 1109: 1487:"2024-06-28 Thunderful Group AB (publ) has today divested AMO Toys AB, Bergsala Aktiebolag, Thunderful 1 AB and Thunderful Solutions AB to Bergsala NDP AB, thereby becoming a pure-play games company" 283:'s exclusive distribution partner in Sweden) acquired 50% of Image & Form. When Sigurgeirsson eventually introduced Lyngeled to the company, Bergsala Holding also acquired half of Zoink in 2014. 1511: 290:
in December 2017. The company was jointly owned by the founding parties: Bergsala Holding held a 50% stake and Sigurgeirsson and Lyngeled 25% each. Sigurgeirsson and Lyngeled became the CEO and
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million. Alongside purchasing the consultancy firm Robot Teddy in October that year, Thuderful Group established Thunderful Investment and two funds, one for game prototypes and one for
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in October 2020, followed by the Swedish developer Station Interactive AB (The Station) to undisclosed terms in November. Its 35 employees were transferred to Thunderful Development.
755: 788: 646: 1204: 1593: 970: 894: 1588: 1578: 937: 75: 1568: 1066: 993: 1099: 1384: 1140: 841: 569: 1030: 815: 672: 1598: 263:(CEOs), Brjánn Sigurgeirsson and Klaus Lyngeled, respectively, became "practically best friends". Although the two studios were separated by the 1171: 1563: 1558: 531: 867: 712: 1583: 1253: 745: 1309: 778: 1356: 1328: 383:, to Bergsala NDP AB. The plan is to transform Thunderful Group into a company with focus on game development and game publishing. 636: 252: 1194: 366:
games, as part of the Thunderful Games segment. In November, Thunderful acquired mobile game developer Early Morning Studio.
1603: 1573: 1281: 960: 1432:"2024-05-21 Thunderful Group AB (publ) to divest the remaining distribution businesses to become a pure-play games company" 608: 506: 358:, Dieter Schoeller, is to become Thunderful Group's head of publishing. The acquisition was to close by 31 March 2021. 927: 318:(IPO). Bergsala, as the group's largest entity, was entirely dependent on its partnership with Nintendo at this time. 1227: 1512:"2024-05-22 Announcement from Extraordinary General Meeting in Thunderful Group AB (publ) held on 22 May 2024" 286:
Sigurgeirsson, Lyngeled and Bergsala Holding decided to merge the two studios and created Thunderful as their
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from Bergsala Holding in July 2018. Thunderful Group has since acquired further developers, the publisher
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In February 2020, Thunderful Group acquired Guiding Rules Games AB (Guru Games), a developer based in
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By November 2020, Thunderful Group was preparing an IPO via the Premier Growth Market of the
268: 209: 895:"Thunderful Opens Its Own Store, Kicks Things Off With Limited Edition SteamWorld Goodies" 363: 197: 419: 244: 221: 327: 287: 272: 264: 50: 1552: 1258: 899: 677: 340: 64: 58: 17: 473: 344: 233: 212:'s video game holding) and Bergsala Holding's distribution business, consisting of 81: 604: 39: 256: 217: 201: 165: 129: 369:
In November 2022, Thunderful acquired British developer Jumpship, creator of
1002: 673:"Image & Form And Zoink! Games Join Forces Under New Company Thunderful" 641: 1067:"Thunderful Group full-year revenues rise to $ 374m despite Q4 profit drop" 322: 482: 380: 311: 280: 276: 213: 1310:"Thunderful acquires Jumpship as studio launches debut title Somerville" 310:
In December 2019, Bergsala Holding combined its distribution businesses—
1329:"Thunderful announces restructuring that will cut 20% of its workforce" 532:"Two Best Friends Are Running Two of Europe's Most Exciting Developers" 302:, joined Thunderful as head of publishing in April 2018 and became the 1385:"2024-04-26 Thunderful Group divests operations in Nordic Game Supply" 1100:"Thunderful acquires Bridge Constructor publisher Headup in €11m deal" 570:"SteamWorld firm Thunderful's quest to become AA starts with an IPO" 779:"Jobs roundup: Dave Haynes installed as director at Vive X Europe" 424: 248: 225: 1031:"Thunderful Group prepares for IPO on NASDAQ First North Premier" 810: 808: 806: 1254:"Thunderful Acquires Robot Teddy To Expand Into Game Investment" 349: 1541: 1135:[Headup: Thunderful Group buys DĂĽren indie publisher]. 182: 536: 259:, developed a close relationship through their founders and 713:"Thunderful acquires UK and US publisher Rising Star Games" 599: 597: 204:. It was founded in December 2019 through a merger between 1457:"Thunderful Group Interim Report January – September 2021" 746:"Image & Form and Zoink merge to form new games label" 666: 664: 1133:"Headup: Thunderful Group kauft DĂĽrener Indie-Publisher" 630: 628: 626: 637:"UK publisher Rising Star Games acquired by Thunderful" 842:"Thunderful Group acquires game developer Guru Games" 844:(Press release). Thunderful Group. 6 February 2020. 818:(Press release). Thunderful Group. 30 January 2020. 706: 704: 702: 700: 1462:(Press release). Thunderful Group. 16 November 2021 816:"Super Mario is now a part of the Thunderful Group" 177: 164: 154: 140: 124: 106: 98: 88: 74: 56: 46: 1414:"Thunderful Games Closes Studio as Revenue Falls" 870:(Press release). Thunderful Group. 16 June 2020. 525: 523: 1228:"Thunderful Group acquires Stage Clear Studios" 1357:"2024-03-27 Thunderful Group to divest Headup" 1195:"Thunderful acquires To The Sky games studio" 868:"Thunderful Development opens studio i Malmö" 354:. With the acquisition, Headup's founder and 8: 563: 561: 559: 32: 1282:"Thunderful acquires Early Morning Studio" 38: 31: 1060: 1058: 961:"Thunderful acquires Station Interactive" 1594:Video game companies established in 2017 236:, and the consultancy firm Robot Teddy. 1327:Dealessandri, Marie (17 January 2024). 959:Valentine, Rebekah (13 November 2020). 498: 347:in February 2021 in a deal worth up to 171: 926:Dealessandri, Marie (5 October 2020). 744:Dring, Christopher (25 January 2018). 649:from the original on 30 September 2018 339:, expecting to raise 750 million 1589:Swedish companies established in 2017 1579:Holding companies established in 2017 1481: 1479: 1477: 1407: 1405: 1379: 1377: 1351: 1349: 1308:Batchelor, James (15 November 2022). 1280:Batchelor, James (16 November 2021). 1252:Whitehead, Thomas (27 October 2021). 1193:Dring, Christopher (10 August 2021). 1174:from the original on 25 February 2021 1143:from the original on 24 February 2021 1112:from the original on 25 February 2021 1098:Batchelor, James (24 February 2021). 1079:from the original on 25 February 2021 1065:Batchelor, James (24 February 2021). 1043:from the original on 24 February 2021 1029:Batchelor, James (17 November 2020). 973:from the original on 24 February 2021 940:from the original on 24 February 2021 874:from the original on 30 November 2020 848:from the original on 30 November 2020 822:from the original on 30 November 2020 611:from the original on 30 November 2020 479:Nordic Game Supply (divested in 2024) 7: 1569:Companies listed on Nasdaq Stockholm 1164:"Thunderful Group to acquire Headup" 1131:Fröhlich, Petra (24 February 2011). 1010:from the original on 17 January 2021 928:"Thunderful Group acquires Coatsink" 907:from the original on 21 October 2020 893:Craddock, Ryan (22 September 2020). 671:McFerran, Damien (25 January 2018). 582:from the original on 1 December 2020 568:Batchelor, James (1 December 2020). 470:Stage Clear Studios (closed in 2024) 1207:from the original on 10 August 2021 685:from the original on 6 October 2018 711:Dring, Christopher (3 July 2018). 27:Swedish video game holding company 25: 998:collaborator Station Interactive" 791:from the original on 11 July 2019 758:from the original on 11 July 2019 544:from the original on 11 July 2019 530:Skrebels, Joe (25 January 2018). 253:independent video game developers 1226:Romano, Sal (2 September 2021). 1162:Romano, Sal (24 February 2021). 992:Kerr, Chris (16 November 2020). 725:from the original on 10 May 2019 429:Guiding Rules Games (Guru Games) 994:"Thunderful acquires long-time 1599:Video game companies of Sweden 777:Taylor, Haydn (9 April 2018). 1: 1564:Companies based in Gothenburg 1559:2020 initial public offerings 1412:Allen, Joseph (15 May 2024). 228:—and acquiring the publisher 432:Thunderful Development Malmö 1584:Holding companies of Sweden 635:Kerr, Chris (3 July 2018). 1620: 607:. Thunderful Group. 2020. 416:Thunderful Development AB 112:; 4 years ago 172:§ Operational groups 37: 458:Thunderful Publishing AB 261:chief executive officers 196:is a Swedish video game 488:Amo Toys (sold in 2024) 316:initial public offering 292:chief creative officer 1604:Video game publishers 1574:Former joint ventures 18:Thunderful Publishing 407:Early Morning Studio 396:Current subsidiaries 296:business development 1516:Thunderful Group AB 1491:Thunderful Group AB 1436:Thunderful Group AB 1389:Thunderful Group AB 1361:Thunderful Group AB 514:thunderfulgroup.com 465:Former subsidiaries 194:Thunderful Group AB 156:Number of employees 34: 33:Thunderful Group AB 387:Operational groups 337:Nasdaq First North 300:Nintendo of Europe 110:December 2019 1333:GamesIndustry.biz 1314:GamesIndustry.biz 1287:GamesIndustry.biz 1200:GamesIndustry.biz 1105:GamesIndustry.biz 1072:GamesIndustry.biz 1036:GamesIndustry.biz 966:GamesIndustry.biz 933:GamesIndustry.biz 784:GamesIndustry.biz 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Index

Thunderful Publishing

Public
Traded as
Nasdaq Stockholm
THUNDR
ISIN
SE0015195888
Video games
Gothenburg
CEO
Subsidiaries
§ Operational groups
thunderfulgroup.com
holding company
Gothenburg
Bergsala Holding
Bergsala
indie game
Image & Form
Zoink
Rising Star Games
Headup Games
Image & Form
Zoink
independent video game developers
Gothenburg
chief executive officers
Göta älv
Bergsala Holding

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