In May, Thunderful Group announced to its shareholders that it would be divesting all of its distribution businesses as part of a restructuring effort to become a “pure-play games company.”
This divestment has now been completed, with a newly-formed version of Bergsala, known as Bergsala NDP AB, acquiring the affected subsidiaries. This move signifies Thunderful’s shift away from distribution to focus exclusively on its gaming operations.
Bergsala NDP AB, owned by Owe Bergsten, Thunderful’s largest shareholder and board member, has taken over several of Thunderful’s subsidiaries, including Amo Toys, Bergsala Aktiebolag, Thunderful 1, and Thunderful Solutions. The deal was initially announced on May 21, and the transaction has been finalized as of today. This restructuring marks a significant step in Thunderful’s strategic pivot.
Following the divestment, Thunderful Group will now concentrate solely on its gaming businesses. The remaining Thunderful entity includes game developers Coatsink, Jumpship, and Image & Form, the creators of SteamWorld, as well as the game publisher Rising Star Games and the investment firm Robot Teddy.
This move aligns with Thunderful’s earlier decision in January to restructure, which included a 20% reduction in its workforce and the sale of other assets like the German developer and publisher Headup.
The Thunderful Group was initially formed in December 2019 through a merger with Bergsala, which is renowned as the exclusive distributor for Nintendo in the Nordic and Baltic regions, a partnership that extends until March 31, 2026.
Despite recent financial challenges, including a full-year loss of SEK 609.4 million ($57 million) attributed to declining Switch hardware sales, Bergsala’s Nintendo-related revenues had previously been a significant contributor to the group’s financial performance.