Thunderful snaps up Stage Clear Studios in deal worth $1.2m

Date Type Companies involved Size
September 3rd, 2021 acquisition Stage Clear Studios
Thunderful snaps up Stage Clear Studios in deal worth $1.2m

Publishing firm Thunderful Games has acquired Spanish developer Stage Clear Studios.

The Madrid-based outfit is being bought in a deal worth €1 million ($1.2 million); €600,000 (~$712,000) of this is being paid upfront in cash, while the other €400,000 (~$475,000) is being given out in shares.

That's on top of the additional €1.5 million (~$1.8 million) that Stage Clear can land if they hit certain performance metrics by June 30th, 2025.

“The acquisition of Stage Clear Studios is fully in line with our strategy to grow our Games segment and the Group as a whole. Stage Clear are versatile: they’ve shown over the years that they can develop, improve and port ongoing projects, but they’re also working on interesting game projects of their own," Thunderful CEO Brjann Sigurgeirsson (pictured) said.

"The acquisition strengthens our international position, broadens our network towards more development studios and creates synergies within the Group's development and publishing operations. We welcome our new co-workers in Madrid, who will work closely with their colleagues in the Nordics, UK and Germany."

Stage Clear Studios CEO and co-founder Daniel Santos Fonseca added: ”In Spain we say that there are trains in life that you have to catch, and the opportunity to be part of Thunderful Group is such a train. When I met the Thunderful management and they told me about their plans, I knew we had to be part of it. We are very proud and excited to start this new adventure in Thunderful Group."

Set up in 2012, Stage Clear Studios has worked on franchises such as Dead Space, FIFA and Castlevania: Lords of Shadow.

Thunderful recently hired ID@Xbox vet Agostino Simonetta as its new chief strategy and investment officer.

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Alex Calvin is a freelance journalist who writes about the business of games. He started out at UK trade paper MCV in 2013 and left as deputy editor over three years later. In June 2017, he joined Steel Media as the editor for new site In October 2019 he left this full-time position at the company but still contributes to the site on a daily basis. He has also written for, VGC, Games London, The Observer/Guardian and Esquire UK.