TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: MTG increases Innogames investment; Wizard Games secures nine-figure Tencent funding; and Quell raises USD$3m (£2.2m) for gamified home fitness. MTG increases Innogames investment Modern Times Group (MTG) has announced that it has acquired an additional 17% of share equity in developer-publisher Innogames for an undisclosed sum, taking its ownership in the Hamburg-based studio up to 68%. The two firms have cancelled pre-existing call options which would have seen [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Microsoft acquires Smash.gg; GreenPark Sports secures USD$14m (£10m); and VisiSonics raises USD$3.5m (£2.6m) for 3D sound technology. Microsoft acquires Smash.gg Microsoft has acquired esports tournament organisation platform Smash.gg for an undisclosed sum. The networking firm, operating out of San Francisco, will continue to operate as independent unit under the Microsoft Content Services division, bolstering the MSN Esports hub. Microsoft has yet to release further details on the acquisition, [...]

In a demonstration of video gaming’s growing influence in other sectors, gamified fitness brands have featured prominently in investment headlines recently, perhaps most notably in the the USD$450m (£345m) funding round closed by Zwift in September. Subsequently, after several years in development, gamified combat sports brand JABII launched a crowdfunding campaign via the Indiegogo platform on Tuesday 13th October. In this exclusive interview, TheGamingEconomy speaks to JABII Group Founder and CEO Christian Thostrup (pictured below) on how the Copenhagen-based start-up is [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Riot Games terminates Neom partnership; Volograms raises €1.5m (£1.4m); and Konami enters PC hardware market. Riot Games terminates Neom partnership Riot Games has announced that it has terminated the partnership between its League of Legends European Championship (LEC) division and Saudi Arabian city building project Neom, just a day since the collaboration was agreed. The cancellation comes after staunch criticism of the deal over Saudi Arabia’s human rights [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Vindex raises USD$300m (£232m) and acquires GAME’s Belong; mobile app and game fraud falls 30%; and Polyarc raises USD$9m (£7m). Vindex raises USD$300m (£232m) and acquires GAME’s Belong New York-based esports startup Vindex has raised USD$300m (£232m) in funding from as-yet undisclosed sources, and will acquire UK retailer GAME‘s Belong Gaming network of gaming sites in a deal valued at approximately USD$50m (£39m). According to a report published [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Huuuge Games acquires Double Star; EU IMCP recommends new loot box approach; and 2020 XR forecast revised to USD$6.9bn (£5.4bn). Huuuge Games acquires Double Star Szczecin, Poland-based developer-publisher Huuuge Games has announced the acquisition of Finnish indie studio Double Star for an undisclosed sum. Double Star, which previously collaborated with Huuuge Games on the release of casual mobile RPG Bow Land, will operate as a subsidiary studio out [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Paradox Interactive acquires Iceflake Studios; Sea Monster raises USD$1m (£796,000); and Partner TV launches cloud gaming service with Blacknut. Paradox Interactive acquires Iceflake Studios Stockholm-based developer-publisher Paradox Interactive has announced the acquisition of Finnish multiplatform developer Iceflake Studios for an undisclosed sum. The two studios are currently collaborating on strategy title Surviving the Aftermath, which is currently in early access. Iceflake becomes the ninth subsidiary studio under the [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Microsoft contemplating WBIE acquisition; Pokémon GO surpasses USD$3.6bn (£2.9bn) in revenue; and Dignitas partners with ExpressVPN. Microsoft contemplating WBIE acquisition Microsoft executives are contemplating the purchase of Warner Bros. Interactive Entertainment (WBIE) from AT&T, according to two anonymous sources speaking to The Information, in order to add to its suite of first-party studios. While IP such as Harry Potter and Batman (DC Comics) would have to subsequently be [...]

Live music, film, TV, health, and social networking. Once distinct sectors with limited overlap with the video games sector, in recent months we have seen increased crossover between each of these and gaming, fuelled by the ever-increasing adoption of digital, the persistent engagement of video game audiences, and the temporary halt of physical events in the wake of Covid-19. While music festivals have faced postponement, in-game concerts in multiplayer platforms such as Roblox, Minecraft, and Fortnite, are thriving. After a [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Magic Leap raises USD$350m (£286m); McLaren Racing partners with Veloce Esports; and MyGamez closes funding round. Magic Leap raises USD$350m (£286m) Magic Leap has raised USD$350m (£286m) from a series of new and existing investors, according to an internal memo circulated by CEO Rony Abovitz obtained by Business Insider. At this stage the augmented reality startup has not confirmed which of its previous investors, which include Alibaba, AT&T, [...]