Thunderful Thunderful Group

Thunderful Group Is Divesting From Nordic Game Supply Due to the Distributor’s “Difficulties With Its Profitability”

Publisher Thunderful Group has announced in a blog post that it is divesting the operations and assets of Nordic Game Supply and will be sold to a firm run by the distributor’s acting CEO, Henrik Mathiasen, according to GameIndustry.Biz. The publisher adds the move will help improve cash flows and reduce the company’s net debt.

“The book value of the inventory in Nordic Game Supply after adjustment with an agreed discount, With minor exceptions, the Transaction will involve a transfer of all business operations and all assets of Nordic Game Supply,” Thunderful Group said in a statement.

The move comes months after the publisher laid off 20 percent of its workforce in mid-January after spending years acquiring other game studios and companies. The staff reduction later led the company to initiate a strategic evaluation of Nordic Game Supply on February 14th of this year. Nordic Game Supply had “difficulties with its profitability” in 2022 and 2023, contributing significantly to $59.2 million in the company’s losses.

“The transaction will have a positive impact on Thunderful Group’s operating cash flows and reduce Thunderful Group’s net debt. As part of the evaluation, the Company has been in dialogue with a handful of potential buyers. The terms of the transaction with the buyer have been deemed to represent the best option for Thunderful Group and its shareholders,” Thunderful Group added.

Thunderful Group might be better known for its publishing label, Thunderful Publishing, which has helped release some notable games, including Deadly Premonition 2: A Blessing in DisguisePumpkin Jack, Aerial_Knight’s Never YieldThe GunkSuper Meat Boy Forever, and the series of Steamworld games over the years. The company also owns a handful of game developer studios, including Jumpship, Guru Games, and Image & Form, the latter being the more well-known developer behind the Steamworld franchise.