Thunderful has entered an agreement to sell Headup for €500,000.

The German-based developer and publisher is being bought by Microcuts Holding, which is controlled by Headup founder and CEO Dieter Schoeller, who is also Thunderful’s vice president of production.

Thunderful initially acquired Headup for €11 million in 2021.

The sale will include Headup’s back catalogue of around 80 titles and a pipeline of five games in development.

Thunderful will receive a revenue share of up to €300,000 on a future unannounced title as part of the agreement.

While the deal has been finalised between both parties, it depends on factors such as shareholder approval, rewriting three IP-related contracts, and the transfer of Studio Fizbin to Thunderful.

German developer Studio Fizbin was acquired by Thunderful in 2023 through Headup for an undisclosed sum.

The sale of Headup was made as part of Thunderful’s restructuring programme announced in January, which will include a 20% reduction in staff.