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: 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: 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, [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: AppLovin to acquire Adjust; MPL raises USD$95m (£70m); and TT Yuyin secures USD$100m (£73.2m) in Series B financing. AppLovin to acquire Adjust Mobile game publisher, marketplace, and advertising technology provider AppLovin has announced that it is set to acquire Berlin-based app measurement and marketing supplier Adjust. Financial terms of the acquisition have not been disclosed, however an anonymous source has suggested to Bloomberg that the deal is worth [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Microsoft gaming revenue climbs by 51%; Qiiwi Games secures SEK66.5m (£5.85m); and Bally’s Corporation Acquires Monkey Knife Fight. Microsoft gaming revenue climbs by 51% Microsoft has released its financial results for the second quarter, ended 31st December 2020 of its fiscal year, revealing that its gaming revenue for the quarter grew by 51% to a company-record USD$5.031bn (£3.674bn). This was driven by the release of its next-generation Xbox [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: VSPN secures further USD$60m (£44m); Turnip raises USD$1.6m (£1.2m) seed funding; and Three Gates acquires gameXcite. VSPN secures further USD$60m (£44m) Esports solutions provider Versus Programming Network (VSPN) has announced that it has closed a USD$60m (£44m) Series B follow-on round supported by Prospect Avenue Capital (PAC), Guotai Junan International, and Nan Fung Group. The round, which closely follows the USD$100m (£72.9m) Tencent-led Series B financing secured in [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Huuuge to raise USD$150m (£110m); Nazara files for public listing; and Playtika nets USD$1.88bn (£1.38bn) in Nasdaq IPO. Huuuge to raise USD$150m (£110m) Mobile social and casino developer Huuuge Inc. has announced that it will raise USD$150m (£110m) as part of a directed share issuance ahead of its prospective initial public offering (IPO) on the Warsaw Stock Exchange. The Polish firm submitted its prospectus in August this year, [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Bilibili Esports raises CN¥180m (£20.4m); 505 Games acquires Infinity Plus Two; and VSPN completes Banana Gaming & Media acquisition. Bilibili Esports raises CN¥180m (£20.4m) Chinese esports organisation Bilibili Esports has announced that it has raised CN¥180m (£20.4m) at a valuation of approximately CN¥830m (£93.9m) in a seed financing round led by the Zhejiang Chuangxiang Cultural Fund and supported by Tianfu Culture Investment and Chengdu B-Ray Media subsidiary Borui [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Epic Games acquires Rad Game Tools; Tapjoy reaches settlement with the FTC; and Juked closes crowdfunding campaign at USD$1.07m (£788,000). Epic Games acquires Rad Game Tools Epic Games has announced that it has acquired Rad Game Tools, a software development operating out of Kirkland, Washington, for an undisclosed sum. Executives have confirmed that RAD’s technology is set to be integrated within Epic’s Unreal Engine, while the acquiree will [...]