Russian VK bought Belarusian game developer for $4 million

VK Holding has spent up to 241 million Russian rubles ($3.96 million at the current exchange rate of the Central Bank) to acquire the Belarusian developer and publisher of mobile games, "Mamboo Games", devby.io reported. Yet, the share of IT in Belarus' GDP continues to fall.

The deal took place in September 2021, but the amount became known only now. VK Holding spent 202 million Russian rubles to purchase a 51% stake in Mamboo Games. Of this amount, 168 million Russian rubles were paid in cash. The remaining 34 million RUB went to repay the convertible debt of Mamboo Games to VK. In addition, VK has deferred payments to the owners of Mamboo Games in the amount of RUB 39 million.

Mamboo Games works in the genre of hyper-casual games. One of the studio's most successful projects is the Shift Race racing game, which gained 15 million installs in the first three months after its release.

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Photo: mgvc.com