TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Unity raises over USD$1.3bn (£1.0bn) in IPO; Supercell fined USD$8.5m (£6.6m) over patent violations; and Hypemasters receives funding from MGVC. Unity raises USD$1.3bn (£1.0bn) in IPO Unity Technologies has raised over USD$1.3bn (£1.0bn) in gross proceeds from its initial public offering (IPO) on the New York Stock Exchange, which took place on Friday, after offering the tranche of 25 million common stock at USD$52 (£40.2m) per share, above [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Embracer Group acquires Vertigo Games; Zwift raises USD$450m (£349m); and Wisdom Gaming Group secures USD$3m (£2.3m). Embracer Group acquires Vertigo Games Embracer Group AB has announced that its wholly-owned subsidiary Koch Media GmbH is set to acquire Rotterdam-based VR developer-publisher Vertigo Games for an initial consideration of €50m (£46m), consisting of €40m (£37m) in cash and €10m (£9.2m) in newly issued Class B share capital. A maximum additional [...]

TheGamingEconomy’s monthly spotlight of industry investments takes a closer look at a sample of video game transactions tracked by the TGE Index over the previous month. In the August 2020 edition: Wildlife Studio’s USD$120m (£91.8m) Series B round; Dynasty eSports’ SGD$3.1m (£1.7m) raise; and Playdots’ USD$192m (£147m) acquisition by Take-Two Interactive. Wildlife Studios Sao Paulo-based mobile developer-publisher Wildlife Studios announced on 17th August that it had raised USD$120m (£91.8m) in a Series B round led by New York investment unit Vulcan Capital, [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: GameStop posts USD$111m (£85.6m) loss; Xbox Series X launch details revealed; and Grimorio of Games and JanduSoft secure USD$450,000 (£346,900). GameStop posts USD$111m (£85.6m) loss Video game retailer GameStop has posted a net loss of USD$111.3m (£85.8m) for the second quarter of its financial year, ended 1st August 2020. Once adjusted, the net loss from continuing operations of USD$91.2m (£70.3m) through the period is significantly wider than the [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Dutch indie games studio Vlambeer shuts down after running for a decade; Big Fish Games lets go of 250 employees as part of a company restructure; and a Kickstarter campaign to fund Eiyuden Chronicle exceeds its initial target.   Vlambeer calls it quits after 10 years Dutch independent game studio Vlambeer has announced that it is closing down a decade after first opening its doors. Founded by Rami Ismail [...]

In this newly-launched series, TheGamingEconomy takes an in-depth look at a sample of the 300 companies added to the TGE Index over the last month. In this edition: video games investment vehicle Transcend Fund; African mobile developer-publisher Carry1st; and esports training platform Barracks. Transcend Fund Transcend Fund is a San Francisco-based venture capital firm focused on early-stage investments in video game companies. The vehicle emerged from stealth in April this year with the announcement that it had raised USD$50m (£38m) to invest [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Challengermode raises USD$12m (£9.1m); Frogwares in legal dispute with Nacon; and Colossi Games secures USD$650,000 (£495,360). Challengermode raises USD$12m (£9.1m) Esports tournament creation and listings platform Challengermode has raised USD$12m in a funding round led by Alibaba Group’s eWTP Innovation Fund, with support from GP Bullhound, Back in Black Capital, and Telia Ventures. The investment will be used by the Stockholm-based firm to expand into North America, develop [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Wildlife Studios raises USD$120m (£91.7m); dMY Technology Group II SPAC in USD$240m (£183m) IPO; and PUBG Corporation invests USD$10m (£7.6m) in 1Up Ventures. Wildlife Studios raises USD$120m (£91.7m) Brazilian mobile game developer-publisher Wildlife Studios has announced that it has raised USD$120m (£91.7m) in Series B funding led by Vulcan Capital, with a supporting contribution from Human Capital. The round values the Sao Paulo-based firm at USD$3bn (£2.3bn), and [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Embracer Group acquires eight studios; Tencent gaming revenue up 40%; and Stillfront Group EBITDA climbs 159%. Embracer Group acquires eight studios Karlstad-based video games holding company Embracer Group AB has announced that it has acquired eight separate firms encompassing developers, game service companies, and distributors, for a combined £61.67m. In summary, the acquisitions comprise of: – Maltese independent PC and console developer 4A Games Limited, acquired in full by [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Daybreak Games acquires Cold Iron Studios; EA investors vote against executive pay plan; and Testronic acquires Whyttest. Daybreak Games acquires Cold Iron Studios Multiplayer developer-publisher Daybreak Games has announced that it has acquired Cold Iron Studios for an undisclosed sum. Cold Iron Studios was previously sold to mobile developer Scopely in January this year by Disney as part of the FoxNext Games marque, though Scopely executives confirmed shortly [...]