Keep Knowledgeable
Get Business Information In Your Inbox…
Signal Up At the moment
Swedish video games group Aonic has obtained €152 million ($160m) in funding for additional M&A exercise and to help ongoing growth throughout its studios.
European funding agency Metric Capital Companions has pumped €100m ($105m) into the agency. Aonic majority shareholder Lively Possession, in the meantime, has contributed additional funding by changing its €52m ($55m) shareholder mortgage.
Aonic and shareholder Lively Possession have been suggested by UBS and DLA Piper. Metric was suggested by Dechert, 8Advisory and Grant Thornton.
Rising video games group
Aonic has snapped up numerous growth, publishing and repair firms since its formation in 2021. Corporations it owns embrace digital actuality developer nDreams, consumer acquisition platform Exmox, advert monetisation instruments supplier Gravite, and cell studios Crimson Video games Co and TutoToons.
Its portfolio additionally contains OtherSide Leisure, headed up by Warren Spector, and Megabit Publishing, amongst others.
The corporate mentioned the funding got here because it reported a 73% improve in group income through the previous 12 months.
It’s value noting that Aonic introduced its Megabit Publishing division at first of the 12 months and absolutely acquired nDreams in November 2023. Different acquisitions final 12 months included Tiny Roar, Otherside Leisure and Milky Tea.
In September, nDreams introduced it was set to put off 17.5% of its workers amid a “difficult” VR market and “robust gaming panorama”. The redundancies have been mentioned to probably impression all ranges of employees.