At what enterprise value was AXESINMOTION acquired in 2022?

During the acquisition of AXESINMOTION by VERVE in 2022, the company was valued at an estimated revenue multiple of 5x - 12x. The transaction's Enterprise Value is estimated to be in the range of 50M - 150M EUR. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the TMT (Tech, Media, Telecom) industry currently tracks an average EBITDA multiple of 14.8x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of AXESINMOTION when it was acquired by VERVE?

The estimated EV/EBITDA multiple for AXESINMOTION is in the range of 5x - 12x. For comparison, the TMT (Tech, Media, Telecom) sector currently shows an average EBITDA multiple of 14.8x. Join our community for free to access full valuation data and industry trends.

When was AXESINMOTION acquired by VERVE?

AXESINMOTION was acquired by VERVE in 2022.

What was the revenue of AXESINMOTION at the time of the deal?

The revenue of AXESINMOTION at the time of the deal is estimated to be in the range of 5M - 25M EUR. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of AXESINMOTION during the acquisition?

AXESINMOTION's EBITDA is estimated to be in the range of 5M - 25M EUR. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the AXESINMOTION acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the AXESINMOTION deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://press.verve.com/media-and-games-invest-acquires-the-mobile-games-developer-axesinmotion-further-strengthening-its-ad-software-platform-with-premium-first-party-data-from-more-than-700-million-users

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Home Database TMT (Tech, Media, Telecom)AXESINMOTION

04/2022

AXESINMOTION acquired by VERVE

SPAIN Software / Gaming & Consumer Apps EV 50M - 150M EUR

Context

Media and Games Invest SE has acquired 100 percent of the shares of AxesInMotion S.L., a mobile games developer with a portfolio of racing titles and a user base exceeding 700 million downloads. The transaction was announced in April 2022 and the parties agreed to close the deal in May 2022, with the purchase price consisting of a fixed cash component and a contingent earn‑out tied to post‑closing EBITDA performance. The acquisition follows MGI's strategic shift toward an advertising‑software platform that relies on proprietary first‑party data sourced from owned gaming content, positioning the combined entity to address evolving privacy constraints in digital advertising. From MGI’s perspective, the deal provides immediate access to a high‑margin, ad‑driven revenue stream and expands its data assets, thereby strengthening its ability to offer advertisers audience segments that are derived from in‑game behavior rather than third‑party identifiers. The integration plan includes embedding AxesInMotion’s titles into MGI’s ad‑technology stack, enabling cross‑selling of advertising solutions to the games’ user base and applying MGI’s acquisition expertise to accelerate user growth. Expected outcomes involve leveraging programmatic ad capabilities to increase monetization efficiency, extracting additional EBITDA through cost synergies in technology and operations, and enhancing the overall competitive positioning of the platform in a market where first‑party data is increasingly valuable.

AXESINMOTION, which reported an EBITDA margin of LOGIN in 2023, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the TMT (Tech, Media, Telecom) sector (14.8x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

-> Deep-dive in TMT (Tech, Media, Telecom) market trends

Target

AxesInMotion S.L. is a mobile games developer and publisher founded in 2014 and headquartered in Seville. The company specializes in free-to-play racing titles that combine realistic graphics with physics‑based driving mechanics. Its portfolio includes flagship products such as Extreme Car Driving Simulator, Mega Ramps and Extreme SUV Driving Simulator, and two additional titles are in advanced development stages. The games are distributed globally through major app stores and have accumulated more than 700 million downloads across all platforms. Revenue is generated primarily through in‑game advertising, which accounts for 87 percent of total income, while the United States represents the largest geographic market, contributing roughly one‑third of revenue. The business operates on a lean development model supported by a team of over 30 engineers, designers and marketers. AxesInMotion monetizes its user base through programmatic ad exchanges and direct deals with advertisers, leveraging real‑time bidding and audience segmentation. The company reports an organic revenue compound annual growth rate of 36 percent over the previous three years and maintains an adjusted EBITDA margin above 60 percent, reflecting high profitability relative to its scale. Its data assets include first‑party user identifiers linked to gameplay behavior, which are utilized to enhance ad targeting efficiency for partner advertisers.

Ent. Value

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2022

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REFERENCES

Valuation range: EV 50M - 150M EUR

Revenue range: 5M - 25M EUR

EBITDA range: 5M - 25M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of AXESINMOTION by VERVE are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Press release: view release

Target: axesinmotion

Acquirer: verve