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Take-Two acquires  Top Eleven  developer Nordeus in $378 million deal

Take-Two acquires Top Eleven developer Nordeus in $378 million deal

June 2, 2021 | By Chris Kerr

Take-Two Interactive has acquired Top Eleven developer Nordeus in a deal worth up to $378 million.

Based in Serbia, Nordeus is a mobile studio best known for developing and publishing soccer management game Top Eleven, which currently boasts over 240 million registered users, but has also worked on other titles including Heroic and Golden Boot. 

The deal will see Take-Two, which is the parent company of Grand Theft Auto developer Rockstar Games and publisher 2K Games, pay $225 million upfront comprised of cash and $90 million in newly issued shares of Take-Two common stock. An earn-out consideration has also been included based on Nordeus meeting certain performance targets over the next two years.

Take-Two said the move is designed to further bolster its mobile business, and that Nordeus' current management team will continue to oversee the studio post-acquisition. The purchase comes not long after the U.S. company purchased mobile studio Playdots for $192 million.

"Our investment in Nordeus strengthens further Take-Two's mobile game business, is highly complementary to Social Point and Playdots, and broadens our sports portfolio with our first-ever soccer offerings," said Take-Two EVP and head of strategy and independent publishing Michael Worosz. 

"Over the last decade, Top Eleven has grown its audience, revenue, and profitability through Nordeus' introduction of live-ops and ongoing gameplay innovations that continue to drive ongoing consumer engagement."

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