Fragbite: Fragbite to acquire Fall Damage

Fragbite is set to acquire Fall Damage, the Swedish-based studio behind the upcoming free-to-play competitive title Alara Prime.The Swedish firm will pay an upfront fee of approximately SEK 20 million ($1.8 million), acquiring all outstanding shares in Fall Damage.Half of the fee will be paid in cash "to an external institutional owner" and the other half in over four million shares at SEK 2.33 ($0.21) per share issued to the founding members of Fall Damage.Read more