Eight Roads Ventures has sold its stake in German online games developer InnoGames in a deal valuing the company at €260m.
The acquirer, Swedish media group MTG, bought a 35% stake in the business, with an option to increase its stake to 51%. The 35% stake is being acquired in two tranches: 21% in Q4 2016 and 14% in Q1 2017....
New combined entity will generate revenues in excess of €300m
Investment marks the fourth round of funding for the UK-based tyre replacement business
Deal marks the fund’s second transaction executed on a stand-alone basis
Backers include existing investors Capnamic Ventures and Iris Capital, as well as business angels