Weekly News Digest #16
# of announced deals
9
announced deals’ size
$38.1m
# of closed deals
8
Hi all,
We are currently working on our Q1’23 Gaming Deals Report, so there’s no featured news in this digest. However, you can still find all the deals of the last week in the “Notable Transactions” section below. To not miss the Report, please follow us on Twitter, LinkedIn, and Telegram.
We want to thank MGVC and The Games Fund for supporting this digest.
| NOTABLE TRANSACTIONS |
MERGERS & ACQUISITIONS
France-based PC & Console games developer and publisher Focus Entertainment (EPA: ALFOC) has acquired UK-based PC & Console simulation games developer Dovetail Games and all of its IPs. The sum of the deal is undisclosed, but Focus Entertainment mentioned that the price consists of both upfront consideration and earn-out payments depending on Dovetail’s performance in the next few years. Founded in 2008 by ex-VP of Electronic Arts (NASDAQ: EA) Paul Jackson, Dovetail Games is known for the Train Sim World franchise (former RailWorks), Bassmaster Fishing 2022 game, and other simulation titles.
Japanese gaming giant Sony Interactive Entertainment (TYO: 6758) plans to acquire US-based PC & Console games developer Firewalk Studios for an undisclosed sum. Since its launch in 2018, Firewalk Studios has been a part of US-based AAA games developer Probably Monsters. In 2021, the company signed an exclusive publishing partnership with Sony Interactive Entertainment. Since then, Firewalk Studios has been working on an yet unannounced AAA multiplayer title for PlayStation. This is the 20th game developer acquired by Sony. In 2022, the company bought several studios including Bungie, Savage Game Studios and Haven Entertainment Studios.
US-based interactive entertainment company Epic Games acquires Brazil-based game developer AQUIRIS. Financial terms of the deal were not disclosed. Following the acquisition, the studio will be rebranded as Epic Games Brazil and will shift its focus toward developing content for Fortnite. Aquiris is best known for developing Horizon Chase Turbo — multiplatform racing game inspired by the great hits of the 80’s and 90’s.
VENTURE FINANCING
Sweden-based game developer Goals has raised $20m in Series A funding. The round was led by Seven Seven Six, with notable participation from Northzone, Moonfire, and Cassius. The newly acquired funds will be allocated towards the continued development of Goals’ first title, which aims to change the football gaming genre.
UK-based mobile game developer TreesPlease Games has raised $8m in a Seed round of funding led by March Gaming, with participation from several angel investors. Along with the round, the company has also announced the release of its first title LongLeaf Valley, a mobile casual game, available on Android and iOS. TreesPlease Games will build its portfolio around the games attracting attention to climate change.
US-based VR game developer Vinci Games has raised $5.1m in Seed funding. The round was led by Makers Fund, with participation from Y Combinator, Soma Capital, and others. The funds will go towards the continued development of Vinci Games’ premier title, Blacktop Hoops — a VR basketball game with social elements.
World Makers, a UK-based PC & Console games developer, has raised $4m in a Series A funding round led by Makers Fund. The company is known for its title Deceit, a cooperative survival horror game. The funds will be used for further development of the company’s second game, Deceit 2, a direct sequel of its first game, which is to be released this year.
US-based Web3 games developer SuperDuperSecret Co. has raised over $1m in a Pre-seed funding round. Several investors have participated in the round, including Round 13 Digital Asset Fund, Merit Circle, Polygon, Solana, Overwolf, Big Brain Holdings, LD Capital. Company’s focus is recreating classic games, such as chess, with a new approach to gameplay and the use of modern technologies like blockchain.
Brazil-based games publisher and developer QUByte Interactive has successfully closed Pre-Seed funding round led by Poli Angels with participation from BossaNova Investimentos. While the sum of the investments was not disclosed, the newly acquired funds will be allocated toward supporting the growth of both QUByte Interactive’s publishing and development branches.
