Thunderful Group is back in the news today as it was announced that the studio is selling Headup publisher Pumpkin Jack for a fraction of what it was bought for in 2021.
Word about this sale comes to us from Gamesindustry.biz which reports that Thunderful sold the publisher for $500,000 — well below the $11 million it spent to buy the company just three years ago.
The studio was (re)purchased by its founder and CEO Dieter Schoeller through Microcuts Holding. By the way, Schoeller is the VP of production at Thunderful. Talk about keeping your friends close, huh?
The deal is now complete between Headup and Thunderful, although it is still dependent on the transfer of Studio Fizbin to Thunderful (acquired via Headup last year), the review of three IP agreements and shareholder approval before it is fully finalized.
While Headup will get back its previous catalog of games, as well as those currently in development, the sales agreement states that Thunderful is still to receive a share of up to $300k on the studio’s yet-to-be-announced title.
All of this comes as part of Thunderful’s restructuring program announced in January this year, which is set to affect 20% of its workforce.
