Weekly News Digest #5
# of announced deals
9
announced deals’ size
$36.5m
# of closed deals
6
Hi all,
We are currently working on our Global Gaming Deals Activity Report, so there’s no featured news in this digest. However, you can still find all the deals of 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
Poland-based mobile games publisher and developer Ten Square Games (WSE: TEN) has increased its stake by 12% in Poland-based mobile games developer Gamesture for $2.7m. The funds will be used by the developer to increase activities related to acquiring users for titles and to develop new games as well. As a result of the deal, Ten Square Games will own 37% of Gamesture’s shares.
UK-based technical & creative gaming services provider Keywords Studios (LON: KWS) acquires US-based PR agency Fortyseven Communications. Financial terms of the deal were not disclosed. The acquisitions will allow Keywords to increase its capabilities and expertise in PR and communications, as well as to expand its services for game companies in marketing, creatives, and player attraction.
Canada-based PC & Console games developer Phoenix Labs plans to regain its independence from Singapore-based games publisher and developer Garena, according to GamesBeat. Financial terms of the deal are not disclosed, but the founders will take the company private again to maximize its long-term potential.
US-based investment company Alta Fox has acquired a 4.51% stake in Sweden-based gaming holding Enad Global 7 (ST: EG7). The company purchased 4 million shares of EG7 for $9.86m (SEK 104m). Thanks to the deal, Alta Fox becomes one of the five largest shareholders in EG7.
VENTURE FINANCING
US-based platform for live service games and content creators Nexus has raised $10m in Series A funding. The round was led by Griffin Gaming Partners, with participation from Sony Innovation Fund, Valhalla Ventures, and others. The funds will be used to expand its in-game software for the implementation of Support-a-Creator programs in live service games.
India-based Esports marketing service provider The Esports Club has raised $3m in funding. The round was co-led by KOMLAY Group, and SAMBAVANATH Group. The funds will go towards the expansion of operations in the Middle East and the Southeast Asia regions.
UK-based coaching gaming startup Titan Academy has raised $1m in Seed funding. The round was led by Superbet, with participation from Ascension, APX, Concept Ventures, and others. The funds will be used to expand the company’s presence in the market and add more game genres in its coaching pipeline.
Australia-based Web3 gaming platform Oh Baby Games has launched out of stealth mode and raised $6m in Seed funding. The round was co-led by eGirl Capital, and Synergis Capital, with participation from gmjp, Merit Circle DAO, and others. The funds will be used to grow the platform, launch 3 titles this year, and to add cross-game collectibles.
PUBLIC OFFERINGS
US-based PC & Сonsole-focused racing games developer Motorsport Games (NASDAQ: MSGM) announced the direct offering of 183,020 Class A shares at a purchase price of $21.40 per share. The company expects to attract around $3.9m as a result of this transaction. The funds will be used for the development of multiple games, working capital, and general corporate purposes.
