TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Theorycraft Games raises USD$37.5m (£26.9m); Motorsport Games to acquire Studio397; and chat platform Stream secures USD$38m (£27.3m). Theorycraft Games raises USD$37.5m (£26.9m) Seattle and Los Angeles-based studio Theorycraft Games has raised USD$37.5m (£26.9m) in a Series A funding round led by Chinese gaming and internet company NetEase, and supported by NEA; BITKRAFT Ventures; Griffin Gaming Partners; SISU Game Ventures, and various angel investors. Theorycraft, which was founded by [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Epic Games acquires Mediatonic; Maestro secures USD$15m (£11m); and All-Star Games raises USD$1.5m (£1.1m). Epic Games acquires Mediatonic Epic Games has announced that it has acquired Tonic Games Group, best known for its Mediatonic division which released the popular Fall Guys: Ultimate Knockout title. Other studios under the Tonic umbrella include Irregular Corporation and Fortitude Games, which have released titles including Murder by Numbers, Gears Pop, and Yahtzee [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: EG7 acquires Innova for €109.8m (£94.91m); Rivalry raises USD$20m (£14m); and Frogwares accuses Nacon of selling hacked version of The Sinking City. EG7 acquires Innova for €109.8m (£94.91m) Stockholm-based video game holding company Enad Global 7 (EG7) has announced that it is set to acquire Luxembourg-based publisher Innova Intellectual Properties for a total estimated consideration of €109.8m (£94.91m), paid wholly in newly-issued shares. Russian-owned Innova is best known [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: AdColony sold for USD$400m (£283m); Hiro Capital in USD$15m (£11m) funding triple; and SIE to “re-organise” Sony Japan Studio. AdColony sold for USD$400m (£283m) Mobile advertising platform AdColony has been sold by Otello to publicly-listed technology firm Digital Turbine for an estimated total consideration of USD$400m (£283m). The transaction is expected to close in March this year. The acquisition has purportedly been made by Austin-based Digital Turbine to [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: HP acquires HyperX for USD$425m (£300m); Thunderful in €11m (£9.4m) Headup acquisition; and BebopBee raises USD$2m (£1.4m). HP acquires HyperX for USD$425m (£300m) HP Inc. has announced that it is set to acquire gaming peripherals and console accessories brand HyperX from Kingston Technology Company for a total consideration of USD$425m (£300m). Notably the deal only concerns HyperX’s peripherals portfolio, with Kingston set to retain its DRAM, flash, and [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: ironSource acquires Luna Labs; Soccer Manager raises £3m; and GameStop CFO Jim Bell resigns. ironSource acquires Luna Labs Mobile and in-game advertising platform ironSource has acquired British video and playable ad creation provider Luna Labs for an undisclosed sum. Luna Labs is best known for allowing developers to create and optimise playable ads directly from their game’s source code via the Unity engine. Its current client list includes [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Roblox to list publicly in March; VSPN mulling US IPO; and Miniclip acquires Green Horse Games. Roblox to list publicly in March Roblox Corporation has amended its S1 filing with the US Securities and Exchange Commission (SEC), revealing its plans to commence share trading on the New York Stock Exchange on or around Wednesday 10th March 2021. The California-headquartered video game platform initially submitted its registration documents in [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Saudi Wealth Fund invests USD$3.3bn (£2.4bn) in gaming; Apple subpoenas Valve; and Netmarble acquires Kung Fu Factory. Saudi Wealth Fund invests USD$3.3bn (£2.4bn) in gaming The Public Investment Fund (PIF) of Saudi Arabia invested USD$3.3bn (£2.4bn) in three publicly-listed US gaming companies in the fourth quarter of last year, according to a quarterly filing with the US Securities and Exchange Commission (SEC). Specifically, the fund chaired by Crown [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: ESE acquires WPG; Colossi Games raises USD$2.5m (£1.8m); and Starbreeze reduces losses in 2020. ESE acquires WPG ESE Entertainment Inc. has announced that it is set to acquire esports fan engagement infrastructure provider World Phoning Group (WPG) for CAD$888,019 (£504,051) in cash and 7,250,001 newly issued common shares, valued at CAD$19,357,502 (£10,987,570) at the time of writing. Following the closure of the transaction, WPG and its European subsidiaries [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: PS5 drift lawsuit filed against Sony; Final Level raises R$8.5m (£1.1m); and redundancies at 22cans. PS5 drift lawsuit filed against Sony United States law firm Chimicles Schwartz Kriner & Donaldson-Smith LLP (CSK&D) has filed a class action lawsuit against Sony, alleging that PlayStation 5 controllers are “defective” due to consistent drift issues, whereby movement is registered by the console despite there being no input from the user. Moreover, [...]