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CI Games Raises $6.7m, Establishes Hexworks Studio

PUBLIC OFFERING | ANNOUNCEMENT DATE: 08 SEP 2020
WRITTEN BY | 14 Sep 2020
CI Games Raises $6.7m, Establishes Hexworks Studio
PUBLIC OFFERING

💵 Venture Funding

  • Warsaw-based PC & console game developer and publisher CI Games (WSE:CIG) has raised $6.7m as private investment in public equity

  • The funding is used to establish the new game development studio — Hexworks

  • CI Games has big plans for Hexworks with hopes for development of new gaming IPs. Some reports indicate the studio might already be working on fantasy RPG projects for the next generation consoles and PC

🎮 New Studio

  • Currently, Hexworks is finishing work on Lords of the Fallen 2, which was announced in 2014 — the same year when the original game was released. The sequel was initially developed by Defiant Studios, but the contract was cancelled due to CI Games being displeased with the studio’s quality of work

    • Release date of Lords of the Fallen 2 is still unknown

  • Hexworks has offices in Barcelona and Bucharest, with its whole team consisting of 25 people, led by creative director Cezar Virtosu and executive producer Saul Gason

Source: Yahoo Finance — CI Games’s share price dynamics

🎲 Product

  • CI Games is PC and console game developer and publisher,

  • In Q1 2020, the company reported $3.27m revenue in sales with 72% of them being generated by sales of the Sniper: Ghost Warrior Contracts

  • The company’s subsidiary publishing label for indie games United Label have showcased two new games in the first quarter of 2020, Roki and Eldest Souls. Roki was already released this summer and received highly positive reviews on Steam

Image Source: CI Games Activity Report

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CI Games
  • Established in 2002 through merger of video game companies Lemon Interactive, We Open Eyes and Tatanka

  • CI Games (formerly City Interactive) went public on Warsaw Stock Exchange in 2007

  • Headquarters – Warsaw, Poland

  • Team of 62 employees

  • PC and console video game developer and publisher, best known for its Sniper: Ghost Warrior series

  • Last quarterly report