On May 30, Sweden-based M.O.B.A. Network AB completed its acquisition of France-based in-game application developer Wargraphs. The one-man operation founded by 25-year-old Jean-Nicolas Mastin , developed Porofessor, an in-game application built using Overwolf’s app creation platform that provides users statistics and data for games such as League of Legends, Teamfight Tactics, and Legends of Runeterra.
The story was first unearthed by TechCrunch on Thursday.
Under the terms of the deal, Wargraphs will receive €50M ($54M USD), with half paid at the time of acquisition and the rest paid out based on meeting certain financial milestones and growth targets.
M.O.B.A. Network announced its plans to acquire the company on May 6.
Interestingly enough, on June 1, M.O.B.A. Network announced that its debt in acquiring Wargraphs was slightly lower due to a miscalculation in the company’s cash position. M.O.B.A. Network reported after acquiring Wargraphs that it had a cash position (from Dec. 1, 2022, to May 31) of € 2.0M – € 2.5M ($2.18M – $2.73M USD), but its actual cash position was € 3.3M ($3.6M USD).
Through its software, Wargraphs had an average of 800,000 daily active users and generated most of its revenue through advertising.
