Expansion (2017–present)
In December 2017, Toadman Interactive formally registered a subsidiary for its Berlin office and hired Daniel Mesonero as the office's CEO and studio manager. In mid-2018, Toadman Interactive acquired the Norwegian studio Artplant. Craig Fletcher, the founder of Multiplay, infused a SEK3 million investment in August 2018. In September 2018, the company acquired Diskett Interactive Sweden, a game development consulting operation consisting of Andreas Jonsson and Jim Sagevid, for SEK140,000. Jonsson later served as chief technical officer at Toadman Interactive. Immortal: Unchained was released later that month but failed to sell well, reaching a peak concurrent player count of just 235. In response, Toadman Interactive's share price fell by 39%. Later that month, the company hired Birgitta Lönnberg as its chief financial officer (CFO).
Toadman Interactive switched its trading venue from NGM Nordic MTF to Nasdaq First North in February 2019. In June, the company acquired the studio Antimatter Games and its 21 employees for roughly US$169,800. It also purchased the marketing agency Petrol Advertising for US$7.25 million in shares and US$10.75 million in cash that month. Toadman Interactive acquired the assets of Tangentix, including the GameSessions platform, for GB£50,000 in October 2019. The company bought Sold Out in November that year, paying GB£12 million in cash and GB£4 million in stock, as well as an additional GB£5.2 million if Sold Out reached certain financial targets by 2020.
In January 2020, Toadman Interactive announced the formation of Enad Global 7 as the parent company for Toadman Interactive (which was rebranded Toadman Studios), Sold Out, and Petrol. Artplant and Antimatter Games remained part of Toadman Studios. The move was aimed at clarifying the company's position as a holding company. "Enad" is a Swedish word meaning "unified" or "united". The reorganisation process was completed on 19 March 2020, when the entity Toadman Interactive AB was legally renamed Enad Global 7 AB and the company's ticker symbol changed to "EG7". In November that year, Enad Global 7 acquired two Canadian development studios: Big Blue Bubble for CA$16 million and Piranha Games for CA$31.4 million. In December 2020, Enad Global 7 purchased Daybreak Game Company for US$300 million. Enad Global 7 bought the Russian publisher Innova in February 2021. Sold Out rebranded as Fireshine Games in March 2022.
In August 2021, Flodin was replaced by Ji Ham (the CEO of Daybreak) as acting CEO. Flodin was to stay with the company for six months. Fredrik Rüdén was appointed as deputy CEO and CFO, with Lönnberg now reporting to him. Flodin's last shareholdings were bought out by the company's executives in May 2022. This made Jason Epstein, Daybreak Game Company's former owner, the second-largest shareholder in Enad Global 7. He was named chairman of the company by August. As a result of the 2022 Russian invasion of Ukraine, Enad Global 7 announced its intent to divest of Innova via a management buyout valued at €32 million and plans to relocate key staff from Artplant's Russian office outside of the country. In September 2022, it announced that it sold Innova to Games Mobile ST for €21 million.
In January 2025, Enad Global 7 shut down Toadman Studios (which had since returned to the Toadman Interactive name) alongside redundancies at Piranha Games.[1]
