Talking Tom app maker Outfit7 sold to Asian investors for US$1bn
Ljubljana, 20 January - Outfit 7, the company that was established by the wealthiest Slovenians Iza and Samo Login and is best known for its globally successful app Talking Tom, has been sold to Asian investors for US$ 1bn.
The news, reported by several media, has been confirmed by Uproar PR, which represents Outfit 7. According to the daily Delo, the buyers of the 100% stake were represented by United Luck Group Holdings Limited, led by Chinese businessman Ou Yaping.
The business daily Finance reported in November last year that Outfit 7, which has five more major owners along with the Logins, was being eyed by Chinese company Zhejiang Jinke Entertainment Culture Co.
Founded in 2009 and based in Cyprus with operations in Slovenia, the UK, and China, Outfit7 boasts over five billion app downloads.
It generated EUR 108m in group revenue in 2015 (up from EUR 79m in 2014) and EUR 80m in net profit (up from EUR 60m in 2014) and paid out EUR 74m in dividends.
The $1bn price tag makes this the single biggest transaction ever for a Slovenian company or a company founded by Slovenia's according to business daily Finance.