TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: TIGA reports that 2019-2020 has seen the fastest growth for the UK games industry; Esports Guild signs its first major sponsorship since its IPO; and PopReach wins investment from eWTP’s New Insight Incentive Company.   UK games industry growth at fastest ever, finds TIGA   Research from TIGA, the trade association that represents the video games industry, has found that the year 2019-2020 has seen the fastest growth for the [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Virtuos acquires CounterPunch Studios; Mogul raises AUD$8m (£4.4m); and Unity Ads joins AppLovin and IronSource in gaming ads triopoly. Virtuos acquires CounterPunch Studios Singaporean developer Virtuos has acquired Los Angeles-based animation services provider CounterPunch Studios for an undisclosed sum. The acquired production studio is best known for its work on franchises including The Last of Us, Mortal Kombat, and Call of Duty, and will continue to operate as [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: MY.GAMES acquires Deus Craft; Embracer Group raises SEK5.78bn (£502m); and TGS Esports acquires Volcanic Media. MY.GAMES acquires Deus Craft Mail.ru Group has announced the acquisition of a controlling stake of 51.16% in Moscow-based mobile developer Deus Craft for an upfront sum of USD$14.1m through its MY.GAMES subsidiary, plus an additional earn-out consideration of a maximum USD$35m payable by April 2021, subject to the fulfilment of performance targets. The [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Amazon launches cloud gaming platform; Spectrum Labs raises USD$10m (£7.8m); and EG7 in SEK429m (£37.1m) share issuance. Amazon launches cloud gaming platform Amazon has announced that it will launch its long-rumoured cloud gaming platform, dubbed Amazon Luna. Initially the service will be available on Fire TV, PC, Mac, and Apple mobile, devices, using existing peripherals or a dedicated Luna controller. Alongside launch titles such as Resident Evil 7 [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Ubisoft’s Maxime Béland resigns; Animoca Brands raises USD$4.1m (£3.3m); and Rockstar and VGD partner for AAA VR title. Ubisoft’s Maxime Béland resigns Ubisoft Vice President of Editorial Maxime Béland has resigned following allegations of sexual harassment and abusive behaviour. As well as Béland, Ubisoft has placed fellow editorial lead Tommy François on disciplinary leave pending further investigation, and has fired an unnamed individual from the company’s Toronto office [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Starbreeze to raise SEK250m (£21.8m); GP Bullhound closes €125m (£114m) fund; KAT VR passes £1m crowdfunding for Walk C treadmill. Starbreeze to raise SEK250m Stockholm-based developer Starbreeze AB has announced that it intends to raise SEK250m (£21.8m) in a new issuance of class A and B shares, as a result of delays in finding a publishing partner for its upcoming Payday 3 title due to the Covid-19 pandemic. [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Stillfront Group raises SEK1.2bn (£102m); Nintendo mooting mobile withdrawal; and eUnited to merge with Backstageplay. Stillfront Group raises SEK1.2bn (£102m) Developer-publisher Stillfront Group AB has announced that it has raised SEK1.2bn (£102m) in a directed share issuance to both Swedish and international investors, with the funds to be used to support its acquisition strategy alongside identifying nascent market growth opportunities. To-date, the Stockholm-based group has acquired 14 studios [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: DoubleDown Interactive in USD$100m (£79.8m) IPO; Nexon to invest USD$1.5bn (£1.2bn) in global entertainment companies; and Giants Gaming acquires x6tence. DoubleDown Interactive in USD$100m (£79.8m) IPO Social and casino developer-publisher DoubleDown Interactive has submitted filings with the SEC for an initial public offering (IPO) on the Nasdaq stock exchange, with its shares to be traded under the symbol DDI. The Seattle, Washington-based firm intends to raise up to [...]

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: Bilibili to raise USD$650m (£529m); Three Gates acquires majority stake in Tivola Games; and Kippo secures USD$2m (£1.6m) seed funding. Bilibili to raise USD$650m (£529m) Chinese streaming platform Bilibili has announced that it aims to raise a minimum of USD$650m (£529m) through the issuance of convertible senior notes for its American depository shares (ADS), with the bonds set to mature on 15th June 2027. Initial purchasers will also [...]