Acquisition of Moonfrog Labs Pvt. Ltd (IN) by Stillfront Group AB (SE) — USD 90 million

Carnegie acted as financial adviser to Stillfront in relation to the acquisition of Moonfrog. Moonfrog is an India-based rapidly growing and highly profitable developer of market leading Board and Social Card Games. Stillfront’s diverse games portfolio has two common themes; loyal users and long lifecycle games.
February 2021.