Enad Global 7
Corporate brand
UnclaimedEnad Global 7 is a Swedish video-game holding company that owns and operates development studios, publishers, and related game businesses.
Last updated August 31, 2026
AI crawler reads
No AI crawler has read this profile yet.
Overview
Enad Global 7 AB, commonly known as EG7, is a Swedish video-game holding company headquartered in Stockholm. The business began in 2013 as Toadman Interactive, founded by Robin Flodin and Rasmus Davidsson as a work-for-hire game-development consultancy. After initially contributing to projects for other publishers and studios, Toadman moved into original game development in 2017 and became a public company later that year. The company’s early identity was tied to Toadman Interactive and its first major internally developed title, Immortal: Unchained. The game’s commercial performance was weaker than anticipated, but the company subsequently pursued an acquisition-led strategy. From 2017 onward, it expanded beyond its original development studio by acquiring or integrating game developers, publishing operations, marketing capabilities, and technology assets. These transactions included Artplant, Diskett Interactive Sweden, Antimatter Games, Petrol Advertising, Tangentix’s GameSessions assets, and the publisher Sold Out. In January 2020, Toadman Interactive reorganized under the Enad Global 7 name. The reorganization was intended to make the company’s role as a holding group clearer, with Toadman Studios, Sold Out, and Petrol Advertising operating as direct subsidiaries or business units. The legal name change was completed in March 2020, when Toadman Interactive AB became Enad Global 7 AB and the listed ticker changed to EG7. The name Enad refers to a Swedish word associated with being united or unified. EG7 then accelerated its expansion. In 2020 it acquired Canadian developers Big Blue Bubble and Piranha Games, followed by Daybreak Game Company in December. Daybreak added established online and live-service properties and became a central component of the group. In early 2021 EG7 also acquired the Russian publisher Innova, although the geopolitical consequences of Russia’s invasion of Ukraine led the company to pursue a divestment the following year. The group’s operating portfolio has included game development, publishing, advertising, online services, and ownership of intellectual property. Its businesses have been associated with titles and franchises spanning role-playing games, massively multiplayer online games, strategy, action, simulation, and other PC and console categories. Sold Out was rebranded as Fireshine Games in 2022, reflecting a broader publishing identity. Management changed substantially in 2021. Founder Robin Flodin was replaced as chief executive by Ji Ham, then chief executive of Daybreak, serving in an acting capacity. Fredrik Rüdén became deputy chief executive and chief financial officer. Flodin subsequently exited his remaining shareholding in 2022. Jason Epstein, the former owner of Daybreak, became a significant shareholder and later chairman. EG7 has also retrenched when individual operations no longer fitted its strategy or external conditions changed. Innova was sold in September 2022 after the group announced plans to divest it in response to the war in Ukraine. In January 2025, Toadman Studios was shut down and redundancies were announced at Piranha Games. These developments illustrate the group’s continuing effort to adjust its portfolio and concentrate resources within a changing games market. EG7 remains an active listed video-game group whose model combines studio ownership, publishing, acquisitions, and management of live game businesses.
History
Enad Global 7 originated in Stockholm in 2013 under the name Toadman Interactive. Robin Flodin and Rasmus Davidsson established the company as a consultancy that performed work-for-hire development for other game businesses. This followed Flodin’s earlier involvement in independent development and studio ventures, including work connected with Dwarfs!? and Zeal Game Studio. Toadman’s early client work included contributions to Warhammer: End Times – Vermintide, Dead Island 2, and Bloodsports.TV. In 2017, Toadman began developing its own games, with Immortal: Unchained becoming its principal early project. The company pursued a public listing that year, raising capital through a share issue and beginning trading on NGM Nordic MTF in December. The listing provided a platform for an acquisition strategy, even though Immortal: Unchained performed below expectations after its 2018 release. Toadman later moved its listing to Nasdaq First North in 2019. The group expanded through a series of acquisitions. Artplant joined in 2018, while Diskett Interactive Sweden was acquired later that year. In 2019, Toadman acquired Antimatter Games, Petrol Advertising, assets from Tangentix including the GameSessions platform, and the publisher Sold Out. These transactions diversified the business from a single development studio into a broader group containing development, publishing, marketing, and online-service capabilities. In January 2020, Toadman announced the Enad Global 7 structure. Toadman Interactive was repositioned as Toadman Studios, while Sold Out and Petrol Advertising became important operating parts of the new holding company. The legal reorganization concluded in March 2020, when Toadman Interactive AB changed its legal name to Enad Global 7 AB and adopted the EG7 ticker. The new name was intended to communicate a unified group rather than a single studio. EG7’s acquisition program intensified in late 2020. It purchased Canadian developer Big Blue Bubble and Piranha Games, then acquired Daybreak Game Company for a substantially larger transaction. Daybreak brought experience in online and live-service games and became one of the group’s most strategically important businesses. In February 2021, EG7 also acquired Innova, a publisher focused on online games in Russia and related markets. The company changed leadership in August 2021. Founder Robin Flodin was replaced by Ji Ham, Daybreak’s chief executive, as acting CEO. Fredrik Rüdén assumed the roles of deputy CEO and CFO. Flodin later sold his remaining EG7 shares in 2022. Jason Epstein, formerly associated with Daybreak’s ownership, became a major shareholder and was subsequently named chairman. External events led to portfolio changes. Following Russia’s invasion of Ukraine in 2022, EG7 announced plans to divest Innova and to move key personnel connected with Artplant’s Russian operation outside the country. Innova was sold in September 2022. During the same period, Sold Out was renamed Fireshine Games, giving the publishing operation a new commercial identity. The group continued to review its studio portfolio. In January 2025, EG7 closed Toadman Studios and announced redundancies at Piranha Games. The company’s history therefore reflects both expansion and consolidation: it grew from a small Swedish development consultancy into a publicly listed international holding company, then adjusted its assets and operating structure in response to game performance, geopolitical conditions, leadership changes, and the economics of maintaining multiple studios.
- 2025
Toadman Studios closed
[1]EG7 shut down Toadman Studios and announced redundancies at Piranha Games.
- 2022
Fireshine Games launched as the new publishing identity
[1]Sold Out was rebranded as Fireshine Games.
- 2022
Innova divested
[1]EG7 sold Innova after announcing a divestment in the context of Russia’s invasion of Ukraine.
- 2021
Innova acquired and management changed
[1]EG7 acquired Innova and later replaced its founder-led management with executives from Daybreak and the wider group.
- 2020
Enad Global 7 structure established
[1]Toadman Interactive legally became Enad Global 7 AB and adopted the EG7 ticker.
- 2020
Big Blue Bubble, Piranha Games, and Daybreak acquired
[1]The acquisitions significantly broadened EG7’s studio portfolio and live-service capabilities.
- 2019
Publishing and marketing capabilities added
[1]Toadman acquired Antimatter Games, Petrol Advertising, Tangentix assets, and Sold Out.
- 2018
Acquisition expansion began
[1]Toadman acquired Artplant and Diskett Interactive Sweden as it developed an acquisition-led growth model.
- 2017
Toadman entered original game development and became public
[1]The company began developing its own games, led by Immortal: Unchained, and started trading publicly in December.
- 2013
Toadman Interactive founded
[1]Robin Flodin and Rasmus Davidsson founded Toadman Interactive in Stockholm as a work-for-hire game-development consultancy.
Products and positioning
A diversified, acquisition-led video-game holding group combining internal development, third-party publishing, marketing, and ownership of live-service game businesses.
Action role-playing game · 2018
Immortal: Unchained
Immortal: Unchained was Toadman Interactive’s first major internally developed title. It is an action role-playing game built around ranged combat, exploration, and character progression. The game was released in 2018 for personal computers and consoles through publishing partners. Its initial commercial performance was weaker than expected and became an important early test of Toadman’s transition from client development to owning and releasing original intellectual property.
Online and live-service games
Daybreak Game Company portfolio
Daybreak Game Company operates an established portfolio of online and live-service games. Its integration into EG7 expanded the group’s exposure to persistent online communities, recurring content, and long-running game services. The portfolio is strategically distinct from one-off premium releases because it depends on continued operation, player retention, updates, and community management.
Game publishing · 2022
Fireshine Games
Fireshine Games is EG7’s publishing identity created through the rebranding of Sold Out in 2022. The business provides publishing, marketing, distribution, and commercial support for video games across relevant platforms. Its role gives EG7 capabilities beyond wholly owned development and allows the group to work with external projects and intellectual property.
Online game platform
GameSessions
GameSessions was an online game platform whose assets were acquired from Tangentix by Toadman Interactive in 2019. The transaction broadened the group’s technology and service assets beyond conventional studio development, although the available reference material does not establish its later operating status within EG7.
Brand decisions
2025
Studio portfolio consolidationStrategyBackground
The group continued reviewing the structure and costs of its owned development businesses.
Action taken
EG7 shut down Toadman Studios and announced redundancies at Piranha Games.
Aftermath
Toadman Studios ceased operations, while the available reference material does not specify the final scale or duration of the Piranha Games changes.
2022
Divestment of InnovaM&ABackground
The Russian invasion of Ukraine created geopolitical and operational complications for EG7’s ownership of Innova.
Action taken
EG7 announced a management-led divestment and completed the sale of Innova to Games Mobile ST in September 2022.
Aftermath
Innova left the EG7 group, while the company also planned to relocate key staff from Artplant’s Russian office outside Russia.
Reported sale price. €21 million (September 2022)
2022
Sold Out rebranded as Fireshine GamesStrategyBackground
EG7 sought a distinct identity for its publishing business within the wider holding-company portfolio.
Action taken
Sold Out was renamed Fireshine Games in March 2022.
Aftermath
The publishing operation continued under the Fireshine Games brand.
2021
Founder-led management replacedOtherBackground
Following rapid expansion and the acquisition of Daybreak Game Company, EG7 changed its senior leadership structure.
Action taken
Ji Ham became acting CEO and Fredrik Rüdén became deputy CEO and CFO, while Robin Flodin left the CEO role.
Aftermath
Flodin later sold his remaining shareholdings, and Jason Epstein became a significant shareholder and chairman.
2020
Creation of the Enad Global 7 holding-company structureStrategyBackground
Toadman Interactive had accumulated development, publishing, and marketing businesses that no longer fit neatly under a single-studio identity.
Action taken
The company reorganized under Enad Global 7, with Toadman Studios, Sold Out, and Petrol Advertising positioned within the group.
Aftermath
The legal name changed to Enad Global 7 AB in March 2020 and the listed ticker became EG7.
Recent events
Reported
EG7 completes acquisition of Innova[2]
Enad Global 7 completed its acquisition of all shares in Innova Intellectual Properties for approximately EUR 109.8 million, paid entirely in newly issued EG7 shares.
Reported
Enad Global 7 acquires Daybreak Game Company[3]
Enad Global 7 acquired Daybreak Game Company for $300 million. The article reports the acquisition as completed and says the company consists of Dimensional Ink Games, Darkpaw Games and Rogue Planet Games.
Reported
EG7 announces acquisition of Daybreak Game Company[4]
Enad Global 7 announced its acquisition of Daybreak Game Company in a deal valuing Daybreak at $300 million, payable in a mix of cash and newly issued EG7 shares. The article states that Daybreak’s main shareholder would hold approximately 10% of EG7 shares after the deal closes.
Reported
EG7 announces acquisition of Piranha Games[5]
Enad Global 7 announced that it had agreed to acquire Piranha Games for CAD $31.4 million, with up to an additional CAD $63.4 million contingent on performance. The deal was expected to close in the first quarter of 2021.
Sources8 sources
- 1Enad Global 7en.wikipedia.org
- 2EG7完成对Innova的收购prnewswire.com
- 3Enad Global 7收购Daybreak Game Companykitguru.net
- 4EG7宣布收购Daybreak Game Companyvgchartz.com
- 5EG7宣布收购Piranha Gamesgamesindustry.biz
- 6EG7 acquires Daybreakgamesindustry.biz
- 7EG7 acquires online games specialist Daybreak – previously known as Sony Online Entertainment - MCV/DEVELOPmcvuk.com
- 8EverQuest Developer Daybreak Game Company Acquired for $300 Milliondualshockers.com
Cite this profile: Cite the canonical profile. /brand-wiki/enad-global-7 · Editorial policy · How profiles are compiled