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 Daily Digest brings you the prevalent business stories in gaming. In today’s news: Sony cuts PS5 production by four million units; Facebook Oculus Quest 2 leaked; and CNET Media Group sold to Red Ventures for USD$500m (£389m). Sony cuts PS5 production by four million units Sony Corp. has cut the estimated production run for its upcoming PlayStation 5 console by four million units, with the Japanese conglomerate now planning on shipping 11 million devices for the 2020-2021 financial year, according to [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Riot Games terminates Neom partnership; Volograms raises €1.5m (£1.4m); and Konami enters PC hardware market. Riot Games terminates Neom partnership Riot Games has announced that it has terminated the partnership between its League of Legends European Championship (LEC) division and Saudi Arabian city building project Neom, just a day since the collaboration was agreed. The cancellation comes after staunch criticism of the deal over Saudi Arabia’s human rights [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Vindex raises USD$300m (£232m) and acquires GAME’s Belong; mobile app and game fraud falls 30%; and Polyarc raises USD$9m (£7m). Vindex raises USD$300m (£232m) and acquires GAME’s Belong New York-based esports startup Vindex has raised USD$300m (£232m) in funding from as-yet undisclosed sources, and will acquire UK retailer GAME‘s Belong Gaming network of gaming sites in a deal valued at approximately USD$50m (£39m). According to a report published [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Huuuge Games acquires Double Star; EU IMCP recommends new loot box approach; and 2020 XR forecast revised to USD$6.9bn (£5.4bn). Huuuge Games acquires Double Star Szczecin, Poland-based developer-publisher Huuuge Games has announced the acquisition of Finnish indie studio Double Star for an undisclosed sum. Double Star, which previously collaborated with Huuuge Games on the release of casual mobile RPG Bow Land, will operate as a subsidiary studio out [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Paradox Interactive acquires Iceflake Studios; Sea Monster raises USD$1m (£796,000); and Partner TV launches cloud gaming service with Blacknut. Paradox Interactive acquires Iceflake Studios Stockholm-based developer-publisher Paradox Interactive has announced the acquisition of Finnish multiplatform developer Iceflake Studios for an undisclosed sum. The two studios are currently collaborating on strategy title Surviving the Aftermath, which is currently in early access. Iceflake becomes the ninth subsidiary studio under the [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Three Ubisoft executives stand down; FitXR secures USD$7.5m (£5.9m); and Athlane raises USD$3.3m (£2.6m). Three Ubisoft executives stand down Three senior Ubisoft executives have resigned following allegations of misconduct, sexual harassment, and abusive behaviour at the Montreuil-sous-Bois-based developer-publisher. Chief Creative Officer Serge Hascoët and Ubisoft Canada CEO Yannis Mallat have both stepped down with immediate effect, while Global Head of HR Cécile Cornet has resigned citing that it [...]

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. [...]

Live music, film, TV, health, and social networking. Once distinct sectors with limited overlap with the video games sector, in recent months we have seen increased crossover between each of these and gaming, fuelled by the ever-increasing adoption of digital, the persistent engagement of video game audiences, and the temporary halt of physical events in the wake of Covid-19. While music festivals have faced postponement, in-game concerts in multiplayer platforms such as Roblox, Minecraft, and Fortnite, are thriving. After a [...]