Baker McKenzie Advises Asmodee Group AB on €180M Acquisition of French Board Game Publisher ATM Gaming

"Baker McKenzie advised Asmodee Group AB on its acquisition of French board‑game publisher ATM Gaming, known for titles such as Speed Bac/Quickstop, Mouton Mouton and Pili Pili. The deal values ATM Gaming at €180 million (€150m cash and €30m in Asmodee shares), with an additional performance‑based earnout of up to €70m payable in Asmodee shares through 2031. Asmodee says the acquisition strengthens its position in the fast‑growing social games segment and should boost organic growth and margins; ATM Gaming is expected to contribute at least €50m of revenue and over €25m of EBITDA (pre‑synergies) in fiscal 2026/27. Completion is expected by the end of April 2026. Baker McKenzie’s deal team was led by Antoine Caillard, with IP, tax, data‑protection and employment specialists involved and support from its Swedish, German and Spanish offices."

Baker McKenzie advised Asmodee Group AB in its acquisition of ATM Gaming SAS. Transaction summary: Asmodee acquired French board‑game publisher ATM Gaming (known for titles such as Speed Bac/Quickstop, Mouton Mouton and Pili Pili). The enterprise value is €180 million — €150 million payable in cash and €30 million in Asmodee Group AB listed shares — with an additional earn‑out of up to €70 million payable in Asmodee shares subject to performance targets through 2031. ATM Gaming is expected to contribute at least €50 million of revenue and more than €25 million of EBITDA (pre‑synergies) for the 2026/27 financial year. The deal strengthens Asmodee’s global position in the fast‑growing social games category and is expected to close by the end of April 2026. Baker McKenzie team (seniority and practice area as stated): - Antoine Caillard — Senior Counsel, M&A (Paris), Lead - Lina Chaif — Senior Associate, M&A - Philippe Frieden — Associate, M&A - Pauline Celeyron — Partner, Intellectual Property - Marie de Combles de Nayves — Senior Associate, Intellectual Property - Charles Baudoin — Partner, Tax - Samuel Lewin — Associate, Tax - Magalie Dansac Le Clerc — Partner, Data Protection - Floriane Cruchet — Senior Associate, Data Protection - Jérémie Paubel — Partner, Employment Law - Céline Ono — Associate, Employment Law The Baker McKenzie offices in Sweden, Germany and Spain were also involved in the transaction.

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Baker McKenzie Advises Asmodee Group AB on €180M Acquisition of French Board Game Publisher ATM Gaming

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Baker McKenzie Advises Asmodee Group AB on €180M Acquisition of French Board Game Publisher ATM Gaming

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