Fragbite Group AB has sold its French subsidiary Playdigious SAS to Griffin Gaming Partners for €10.5 million (approximately SEK 115 million) in a cash deal. The transaction was completed upon signing, marking a major milestone for both companies.
Under the terms of the deal, Fragbite will also retain 90% of net revenue generated from the current PC titles under the Playdigious Originals label — including Fretless – The Wrath of Riffson, Crown Gambit, Linkito, and The Almost Gone.
“Playdigious was acquired in 2021 and has been a successful investment.
This divestment allows us to secure a strong capital position and support new strategic initiatives such as our Bitcoin Treasury. We’re proud of the Playdigious team and believe they’ll continue to thrive under Griffin Gaming Partners.”
Stefan Tengvall, CEO of Fragbite Group
Strengthening Fragbite’s Financial Position
The sale strengthens Fragbite’s balance sheet and reduces interest-bearing liabilities by approximately €1.08 million. Playdigious previously represented 77% of Fragbite’s revenue in 2024, and the divestment is expected to generate a capital gain in both the parent company’s and the consolidated group’s financial statements.
Following the transaction, Fragbite plans to maintain liquidity reserves until its remaining operations — including FunRock’s hybrid work-for-hire business and its Bitcoin Treasury initiative — become self-sustaining, which the company expects within 6–12 months.
Background on Playdigious
Founded in 2015 by Xavier Liard and Romain Tisserand, the company built its reputation by licensing and porting PC and console titles to mobile platforms, including TMNT: Shredder’s Revenge, Loop Hero, Streets of Rage 4, and more.
The studio was acquired by Fragbite in 2021 for €5 million in a mix of cash and shares, later achieving all performance targets and earn-outs totaling an additional €3.5 million.
In 2023, Playdigious expanded into original PC publishing under Playdigious Originals, a move that caught Griffin Gaming Partners’ attention.
Advisors
Agora Gaming Partners acted as Fragbite’s sell-side advisor, with Wiggin LLP providing legal counsel and Lexprime advising on French legal matters.
Fragbite stated that further details on the financial impact will be included in its Q3 2025 interim report.
