TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: MGI acquires KingIsle; Northzone exits Kahoot; and non-domestic China game approvals fall by 47.6% in 2020. MGI acquires KingIsle Media & Games Invest (MGI) has announced that it is set to acquire Austin-based online game developer-publisher KingIsle Entertainment for a fixed purchase price of USD$126m (£92.9m) in cash, followed by an earn-out consideration of up to USD$84m (£62m) tied to revenue generated through 2021. KingIsle, which was founded [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Roblox raises USD$520m (£382m) ahead of direct listing; SuperData forecasts 2% growth for 2021; and Trump administration mulling Tencent investment ban. Roblox raises USD$520m (£382m) ahead of direct listing Online gaming platform developer Roblox Corporation has announced that it has raised USD$520m (£382m) in a Series H funding round led by US investment firms Altimeter Capital and Dragonner Investment Group, with additional support from the Investment Group of [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Nintendo to acquire Next Level Games; Google workers to unionise; and SuperGen Group to build CN¥10bn (£1.1bn) esports centre. Nintendo to acquire Next Level Games Nintendo has announced that it will acquire 100% of the outstanding shares in Vancouver-based studio Next Level Games for an undisclosed sum. The acquired firm, which has previously collaborated with Nintendo on a number of titles including Super Mario Strikers and Luigi’s Mansion: [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: US Senator proposes prison for streaming copyright violators; Salad Technologies raises USD$3.2m (£2.4m); and Nintendo shifts 1.3 million Switch consoles in China. US Senator proposes prison for streaming copyright violators United States Senator Thom Tillis has filed an incendiary amendment to the controversial CASE act being pushed through Congress as part of last-minute measures to prevent a government shutdown tomorrow (11th December 2020), which proposes streaming copyrighted material [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: VSPN raises USD$100m (£76.6m); Koei Tecmo sales up 39.7%; and Scopely acquires Genjoy. VSPN raises USD$100m (£76.6m) Shanghai-based esports solutions provider Versus Programming Network (VSPN) has announced that it has closed a USD$100m (£76.6m) Series B round, which will be used to support the expansion of its ecosystem outside of the Chinese market as well as the development of its products, most notably its first-party short-form video platform. [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Huya and DouYu to merge; Take-Two Interactive acquires Ruffian Games; and misleading Playrix adverts banned in the UK. Huya and DouYu to merge Chinese video game streaming firms Huya Inc. and DouYu International Holdings Ltd. have announced that they are set to merge in a stock-for-stock transaction, creating a combined entity valued at approximately USD$11bn (£8.4bn). Tencent Holdings Ltd., which currently owns stakes of 50.1% and 38% in [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Tencent gaming draws US scrutiny; Stillfront acquires Nanobit; and Bunch raises USD$20m (£15.4m). Tencent gaming draws US scrutiny The Committee on Foreign Investment in the United States (CFIUS) has sent formal enquiries to US-based video game companies in which Tencent Holdings Ltd. holds a minority or majority stake, including Epic Games and Riot Games, over their data security practices. Tencent has over 300 investments across its portfolio, including [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: IGN parent firm Ziff Davis partners with Tencent to relaunch IGN China; Apple blocks Epic Games from submitting updates to the App Store; and Potato Play raises $1.75m in seed funding.   Ziff Davis and Tencent Partner in IGN China relaunch   Parent-company of IGN, Ziff Davis, has joined forces with Chinese technology heavyweight Tencent to relaunch IGN China. The new version of the company’s flagship site, which went live [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Tencent discussing Huya and DouYu merger; AT&T cools WBIE sale rumours; and Facebook and Microsoft criticise Apple over App Store policies. Tencent discussing Huya and DouYu merger Executives at Tencent Holdings Ltd. are driving discussions aimed at brokering a merger between leading Chinese streaming platforms Huya Inc. and DouYu International Holdings Ltd., in which the company owns stakes of 37% and 38% respectively. According to anonymous sources speaking [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Epic Games raises USD$1.78bn (£1.35bn); Trump signs executive order against Tencent; and Enthusiast Gaming acquires Omnia Media. Epic Games raises USD$1.78bn (£1.35bn) Epic Games has announced that it has raised USD$1.78bn (£1.35bn) of primary capital and secondary purchases from a host of investors, including Baillie Gifford; BlackRock; Lightspeed Venture Partners; T. Rowe Price Associates; and returning partners KKR and Smash Ventures. The North Carolina-based firm has confirmed that [...]