Trilegal and DLA Piper advised Swedish gaming group Stillfront in its recent acquisition of Bengaluru-based Moonfrog Labs, a developer and publisher of board and social card games, which was backed by Sequoia Capital and Tiger Global, among others.
AZB & Partners advised Internet Fund III, an affiliate of Tiger Global, while Shardul Amarchand Mangaldas & Co advised Sequoia Capital.
The acquisition was announced on 1 February and will be done in four tranches, the first of which closed on 26 February with Stillfront acquiring 91% of the shares in Moonfrog for US$90 million on a cash and debt-free basis. Stillfront will acquire the remaining 9% by 2024.
Trilegal’s team comprised: Partner Nikhil Narendran, senior associate Jishnu Sanyal, and associates Aparajita Lath, Krati Hashwani and Cheta Sheth (TMT); partner Clarence Anthony and associates Nidhi Singla and Aditya Ravishankar (corporate); and partner Swarnima and associates Sachin Arora and Pragya Goyal (employment and labour).
DLA Piper’s team was led by its Stockholm-based partner, Peter Ihrfelt, and included partner Peder Grandinson, and associates Rebecca Fallberg, Björn Torsteinsrud and Erik Rosberg. UK-based partner Andrew Davies was part of a wider DLA Piper team that was also involved.
AZB & Partners’ team comprised partners Ashwath Rau, Nanditha Gopal and Aditya Singh Chandel.
With the acquisition, Stillfront expands its footprint into the Indian subcontinent, which it said was “a strategic move into one of the fastest growing mobile game markets worldwide”.
