RITAM POSLA Alan Sumina i Zoran Vučinić

Guest Alan Sumina i Zoran VučinićHosted by Lidija KiseljakMay 3, 2026

Alan Sumina i Zoran Vučinić

About this episode

What you'll hear in this conversation

In the fast-paced world of tech, standing still often means falling behind. That's the counter-intuitive lesson from Alan Sumina and Zoran Vučinić, co-founders of NanoBit, a Croatian gaming studio recently acquired by Sweden's StillFront Group for $148 million. They built NanoBit from the ground up, without a single external investor, a rare feat for a company of this scale. Yet, they chose to sell, not out of weakness, but as a strategic move to accelerate growth in an industry where, as Sumina puts it, "stagnation means death." This conversation offers a candid look at the high-stakes world of M&A, revealing what truly drives value, how to execute a complex deal with unprecedented speed, and the hard choices founders face when scaling a company they built themselves.

Insights from the conversation

What to take from this episode

The "billion-dollar transaction" widely reported in the media was a potential maximum, with the actual deal valuing NanoBit at $148 million. In high-stakes M&A, the public narrative often simplifies or exaggerates the true value; focus on the concrete figures and context, not the headlines.

NanoBit built its entire operation without external investors. This makes the $148 million acquisition particularly noteworthy in a region where external funding is often seen as the only path to scale. A company's internal strength and self-sufficiency can be its most powerful asset when it comes time to sell.

In the tech sector, Alan Sumina states that "stagnation means death." He explains that constant year-over-year growth isn't optional, but an existential requirement to avoid being overtaken by competitors. The decision to sell can be a strategic move to accelerate growth, not a retreat.

The actual acquisition process, from serious negotiations to closing, took only a month and a half. This speed was possible because NanoBit had years of international audits and "clean books," meaning no hidden issues. Internal organization and transparent operations can drastically shorten a complex M&A timeline.

NanoBit received financially stronger offers than SteelFront's, but chose SteelFront due to its ideal structure that allows acquired companies autonomy and a similar portfolio of games. The most valuable buyer isn't always the one with the highest bid, but the one who best aligns with the company's future and culture.

Through the acquisition, NanoBit allocated almost 50 million kuna (about $7.5 million) to around twenty key employees. Structuring a deal to reward core talent ensures that the people who built the company also benefit substantially from its sale.

The deal was governed by English law to provide a neutral framework between a Swedish buyer and a Croatian seller, requiring extensive negotiation on "legacy clauses." Cross-border acquisitions demand top-tier legal and advisory expertise to navigate complex international legal frameworks.

SteelFront had acquired fourteen companies before NanoBit, across the US, Asia, and the Middle East. Choosing a buyer with a proven track record in M&A means working with professionals who understand the process and can execute the transaction efficiently.

Before the pandemic, NanoBit had actively considered listing on a stock exchange themselves. However, the pandemic "changed the entire dynamic" and accelerated M&A activity across Europe and globally. External market conditions can swiftly alter a company's strategic options, making adaptability crucial.

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