Weekly News Digest #38

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MERGERS & ACQUISITIONS

[UPD] Canada-based digital channel network Vertiqal Studios (TSX: VRTS) has officially closed the acquisition of Canada-based esports organization Luminosity Gaming and US-based YouTube partner network Omnia Media from Enthusiast Gaming (NASDAQ: EGLX). This consolidates Vertiqal’s esports and creator economy footprint, following Enthusiast’s ongoing divestment of non-core assets.

US-based games developer and publisher Take-Two Interactive Software (NASDAQ: TTWO), through its subsidiaries Zynga and Rollic, has acquired full rights to the mobile puzzle title Color Block Jam from Turkey-based Gybe Games for an undisclosed sum. The game was co-developed initially under a publishing partnership between Rollic and Gybe Games, and the acquisition, which includes 100% ownership of the IP, has been approved by the Turkish Competition Authority. According to AppMagic, Color Block Jam has generated $87m in IAP revenue and reached 54 million downloads lifetime.

Spain-based web3 company The Chiliz Group has acquired a 51% controlling stake in Denmark-based esports organization OG Esports for an undisclosed sum. The acquisition is intended to expand OG’s operations and enhance fan and player engagement. The transaction includes a management transition under a new CEO, while the original co-founders will continue to lead strategic projects to strengthen the team’s competitive foundation. OG Esports is known for its championship-winning Dota 2 teams and competitive rosters in Counter-Strike, Honor of Kings, and Mobile Legends: Bang Bang, and launched its own web3 token in 2020. Chiliz will integrate OG’s fan-token ecosystem into its broader sports-property network.

Canada-based game publisher Gambit Digital has acquired the farming and life-sim title Fae Farm and all IP rights connected to the game from Canada-based games developer Phoenix Labs for an undisclosed sum. The deal is structured as a partnership led by Gambit Digital, with a consortium of development partners assuming responsibility for ongoing development and long-term live-service support, while Gambit remains publisher of the game. Fae Farm, released in Sep’23, has attracted over 500,000 players across multiple platforms.

VENTURE FINANCING

Spain-based mobile edtech company Lingokids has raised $120m in a funding round led by Bullhound Capital and General Catalyst, with participation from Nextalia Ventures and other investors. The round combines equity financing and go-to-market investment. The proceeds will be deployed to accelerate AI-driven content production and personalization, expand the integration of third-party IPs, and enhance the diversification and quality of Lingokids’ educational content offerings to support scalable growth and platform expansion. The company develops a children’s learning mobile app, Lingokids, that uses gamification to deliver educational content across academic and life-skills areas. The company previously secured $60m across 4 rounds:

• $40m Series C in Jun’21;
• $10m Series B in Oct’20;
• $6m Series A funding round in Oct’18;
• $4m Seed funding round in Jun’17.

Vietnam-based web3 game developer RuneSoul has raised $4m in a funding round led by BitGo Capital, with participation from AccelByte Fund and IGC Guild. The proceeds will be used to enhance game features, support development, expand globally, and grow the community. RuneSoul is currently developing an ARPG title with web3 elements.

Netherlands-based PC & Console game development studio Twirlbound has secured an undisclosed equity investment from ForsVC and Brabant Development Agency. The funding will be used to strengthen the core team and accelerate the development of new titles. Twirlbound, known for Pine and upcoming The Knightling, will focus on open-world action-adventure games.

Canada-based indie games developer Coldblood has secured an undisclosed investment from Outersloth. The funds will be used to support the development of the company’s debut horror RPG Neverway, which is being developed with a focus on the Japanese market.

FUNDRAISING

Cyprus-based mobile games publisher AppQuantum has launched a $10m fund under AppQuantum VC targeting early-stage mobile game studios. The fund will focus on pre-Seed and Seed companies in the mobile gaming sector across the US, Europe, LATAM, and Southeast Asia. AppQuantum VC will provide marketing, monetization, and live-ops support. Initial investments will range from $250k to $1.5m, with potential follow-on funding.

OTHER NEWS

Cyprus-based animation technology provider Cascadeur has secured $50k via Epic MegaGrant, a grant program by Epic Games. The grant will support the development of a new version of a dedicated Unreal Engine Live Link plugin, enabling real-time syncing of animations without manual exports. Cascadeur offers an AI-assisted, physics-based animation tool, serving a global user base where over 40% use Unreal Engine in their workflows.

COMPANY REPORTS