TutoTOONS sold the video games business

Ellex in Lithuania represented a Lithuanian video gaming start-up TutoTOONS, on the sale of 100 proc. shares to video game group Aonic Group.

The transaction itself was really exceptional because of its multijurisdictional nature and applicability of English law. Such nature of the transaction lead to the preparation of the transactional documents in cooperation with our dear colleagues from the UK-based law firm Bird&Bird.

TutoTOONS is a highly successful and fast-growing mobile gaming studio developing exciting and immersive games for kids and tweens with an industry-recognized track record of continuous game innovation.

Aonic Group announced its formation as a new video gaming group aimed to be the best home for midsized studios. The first two firms joining Aonic Group are TutoTOONS and AddApptr.

Ellex Valiunas represented the client in all matters related to the sale. The project was implemented by partner Paulius Gruodis, senior associate Mantas Juška and associate Augustinas Mačionis.