Nexters Global, a Cyprus-based mobile & social game developer and publisher, and Kismet Acquisition One have entered into a definitive business combination agreement. If approved by shareholders, the transaction is expected to close in the second quarter.
The business combination values Nexters at an enterprise value of $1.9 billion, representing 13.8x projected 2021 and 11.6x projected 2022 management EBITDA.
The transaction is expected to deliver up to $150 million in cash to Nexters before advisor fees and/or redemptions by Kismet shareholders. Existing Nexters shareholders will receive a cash payment of up to $150 million pro-rata to their pre-money shareholdings, and will roll approximately 92 percent of their holdings into the combined company while agreeing to a 12 month lock-up. Read more.
