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: Logic exclusively signs with Twitch; Amber merges with KaraOkulta; and executive changes at ESL. Logic exclusively signs with Twitch Rapper Logic has signed a deal, reportedly worth seven figures, to stream exclusively through Twitch, becoming the first established musician to do so. The artist, real name Sir Robert Bryson Hall II, announced his retirement from releasing albums just four days ago (17th July 2020), stating that the decision [...]

TheGamingEconomy’s Daily Digest brings you the latest news in the world of gaming. In today’s news: New EU regulation gives developers and publishers more rights against platforms; Amazon pushes New World MMO back to 2021; and Leyou gives Tencent priority in acquisition talks. New EU regulation gives developers and publishers more rights against platforms A new piece of EU legislation, which gives European games developers and publishers more protection against distributor platforms, came into effect yesterday (12 July). The new rules mean [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Paradox Interactive acquires Playrion; Sony mulling offer for Leyou; and Tencent launches second US studio. Paradox Interactive acquires Playrion Stockholm-based developer-publisher Paradox Interactive has announced that it has acquired mobile studio Playrion for an undisclosed sum. Operating out of Paris, the acquired developer is best known for its Airlines Manager title, which has a player base of over 10 million since its release in 2014. Playrion becomes the [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Bloober Team in M&A discussions; Absolutely Games founded; and Oculus Go shuttered. Bloober Team in M&A discussions Kraków-based developer Bloober Team SA is to enter second-stage talks with six companies over a potential merger or sale of the company, according to document filings submitted to the Warsaw Stock Exchange. Of the prospective partners, three are headquartered within the United States, two in Poland, and one in the United [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Wave raises USD$30m (£24m); Baidu acquires Redfinger; and UK to launch APAC Digital Trade Network. Wave raises USD$30m (£24m) Los Angeles-based digital concert broadcaster Wave has raised USD$30m (£24m) in Series B funding in a round led by Maveron, with support from a host of 15 VC and angel investors, including Upfront Ventures, Raised in Space Enterprises, RRE Ventures, NTT DOCOMO Ventures, Griffin Gaming Partners, and GFR Fund. [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: DCMS calls for more loot box evidence; Sony fined AUD$3.5m (£1.9m); and Sandsoft Games launches. DCMS calls for more loot box evidence The UK Department for Digital, Culture, Media and Sport (DCMS) is to call for further evidence on loot boxes as it considers whether to classify the controversial in-game mechanic as a gambling product, according to a report published in The Guardian. Despite the committee stating in [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Homa Games partners with IRL Team; LootLocker raises SEK2.4m (£201,000); and Paradox Interactive opens new Barcelona studio. Homa Games partners with IRL Team Homa Games has joined forces with indie idle game studio IRL Team, with the aim of expanding its capabilities across mobile development and publishing. The three-strong staff at IRL Team have been hired by Homa Games but will continue to operate IRL Team out of [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Zynga in talks to acquire Peak; NetEase to raise up to USD$3bn (£2.4bn); and Avalanche Studios Group to open new UK studio. Zynga in talks to acquire Peak Social game developer and services company Zynga is in advanced talks to acquire mobile games company Peak Games in a cash and shares deal which would value the latter at approximately USD$1.8bn (£1.5bn), according to a reports from Turkish media. [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: CD Projekt now most valuable European game company; Amplifier Game Invest acquires DESTINYbit; and AdInMo raises USD$500,000 (£408,000). CD Projekt now most valuable European game company Warsaw-based CD Projekt SA is now the most valuable European game company, with its market capitalisation of €8.92bn (£7.97bn) surpassing that of French developer-publisher Ubisoft, which holds a value of €8.12bn (£7.25bn) at the time of writing. The Polish firm is best [...]