In a new official blog post today, Thunderful Group confirmed it has entered into an agreement to divest the operations and assets of Nordic Game Supply.
Thunderful Group initially formed in 2019, and Thunderful Games is popularly known for developing and publishing indies. It published notable titles like Steamworld Build and Planet of Lana. The latter game just got a port for PlayStation and Switch earlier this month.
Thunderful Group’s buyer for the divestment is a company owned by Nordic Game Supply’s acting CEO Henrik Mathiasen. Mathiasen is also the CEO of Bergsala, which formed part of Thunderful Group in 2019.
In today’s blog, Thunderful Group cites “difficulties with profitability” as a central reason to divest operations in Nordic Game Supply. The company hopes it will improve cash flows and reduce net debt.
If it has the intended impact, that could improve development on new projects, and potentially help avoid new layoffs. Employee layoffs have not slowed down in the gaming industry. Just this month, Take-Two Interactive announced layoffs affecting 5% of its workforce, and Flaming Fowl recently lost over half of its entire team.
The announcement mentions a few typical concerns, like handing over personnel and IP to the buyer. It adds that after the transaction is complete, “it is the intention that Nordic Game Supply will cease its operations as soon as possible.” At this time, the future of Nordic Game Supply’s titles is unclear.
Thunderful Group added that the deal is still “subject to approval by the shareholders.”
For more of the latest Insider Gaming news, you can read about new details for the Nintendo Switch 2 surfacing online this week.
