Earlier this year, Thunderful Group announced amidst financial struggles that, in addition to laying off a sizeable portion of its workforce, it was also looking to divest some of its assets in order to raise funds. Now, the company has announced the sale of one of its publishing labels.
It’s been announced that indie publisher Headup – known for the likes of Bridge Constructor, Industria, White Shadows, and more – is splitting from Thunderful Group and being sold to Microcuts Holding, a holding company established by Headup founder Dieter Schoeller for the purposes of this transaction. The deal will entail a purchase price of €500,000. In 2021, Thunderful Group acquired Headup in a deal worth up to €11 million.
With Headup going independent, it will also be taking with it the rights to “approximately” 80 catalog titles, as well as five upcoming ones that are currently in development. Meanwhile, Thunderful Group will retain control of “select assets and IP”, and will also receive a revenue share of up to €300,000 for a future unannounced title.
