Weekly News Digest #34
# of announced deals
announced deals’ size
# of closed deals
Last week, we released our Global Gaming Deals Activity Report for H1’23. However, some of you might have missed it — our latest email campaign was marked as spam because of a problem with the servers we used. Now everything is supposed to be fine, so hopefully you see this message.
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MERGERS & ACQUISITIONS
Sony Interactive Entertainment (TYO: 6758; NYSE: SONY) is set to acquire US-based audio technology brand and headphone developer Audeze, for an undisclosed sum. This acquisition highlights SIE’s commitment to enhancing the audio experience for PlayStation gamers. Audeze, known for its award-winning headphones, will continue its independent operations and multi-platform product development while benefiting from integration into the PlayStation ecosystem. The transaction details, including the acquisition cost, remain undisclosed. This move aligns with SIE’s dedication to elevating PlayStation audio experiences, complementing recent advancements like PlayStation 5’s Tempest 3D AudioTech and the Pulse 3D wireless headset.
Canada-based gaming company Behaviour Interactive has acquired Codeglue, the Netherlands-based games developer, for an undisclosed sum. The deal comes as part of Behaviour’s ongoing European expansion strategy. Codeglue develops its own IPs, such as Spellbenders, Antegods, and Rocket Riot, as well as co-develops and adapts for different platforms a number of titles. The acquisition allows Codeglue to operate as Behaviour Rotterdam.With this deal Behaviour Interactive further enhances its capabilities, diversifies its portfolio, and strengthens its position in the gaming industry.
US-based technology company Luma AI has raised $25.5m in a funding round, according to the SEC filing. This is the second time the company has raised money in the last 6 months, with the previous one being a $20m Series A round. Luma AI is developing an AI-powered technology for creating and transforming videos and images into 3D assets.
UK-based interactive drama developer Scriptic has raised an additional $0.5m investment from the Sony Innovation Fund. Previously the company already raised $5.7m in a Seed funding round 2 months earlier. This brings their total seed investments to $8.7m. The funds will support the expansion of mobile narrative offerings and the provision of generative AI developer tools to a broader audience of writers and storytellers. Scriptic, previously known as Electric Noir, gained recognition with its title Dead Man’s Phone in 2020.
Cyprus-based mobile games developer Made on Earth Games has raised $3.25m in a Seed funding round for its upcoming 4X strategy game Everbright. GEM Capital led the round, with participation from The Games Fund, Raga Partners, and Heracles Capital. The game, currently in closed beta, aims to offer accessibility and engagement to a diverse audience with an intuitive user interface, storyline, and art style. Made on Earth Games is focused on modernizing the 4X genre for mobile audiences.
Turkey-based mobile games and apps developer Mega Fortuna has raised $2.3m in a Seed funding round, led by APY Ventures, with participation from Traders Portfolio Future Impact Fund, and managed in collaboration with Vestel Ventures. Mega Fortuna aims to leverage this investment to expand its portfolio and enhance its technological capabilities, serving its 2.5 million monthly active users and staying competitive through rapid product development and aggressive marketing strategies.
US-based gaming company Rocket Science has received a $1m (£0.825m) grant from the Welsh Government’s Economy Futures Fund (EFF). The company is establishing a European headquarters in Wales, that will focus on developing popular video games and supporting clients in creating gaming projects. Rocket Science is an outsourcing games developer, known for working on such projects as League of Legends, PUBG, Fortnite, Overwatch 2, and more.