TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Embracer Group sales up 44%; Artie raises USD$10m (£7.2m); and Epic submits EU antitrust complaint against Apple. Embracer Group sales up 44% Embracer Group has released its financial results for the third quarter of its 2020-2021 fiscal year, revealing that its net sales increased by 44% to SEK2.168bn (), with its video game operations climbing to SEK1.356bn, up 62% year-over-year. Profitability also increased sharply, with operational EBIT near-doubling [...]

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: Playtonic launches publishing division; Remedy reports record revenue; and Nitro Games revenue climbs by 43.5%. Playtonic launches publishing division British developer Playtonic Games, best known for Yooka-Laylee franchise, has announced that it has launched an internal publishing division for third-party indie titles, dubbed Playtonic Friends. At launch, the Burton-on-Trent-based firm has partnered with three studios, namely Awe Interactive; Fabraz; and Okidokico, to support the release of three as-yet [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Asmodee acquires Board Game Arena; Mighty Kingdom pursuing IPO; and 3D Aim Trainer secures €1m (£877,000). Asmodee acquires Board Game Arena Guyancourt-based board and card game distributor Asmodee has announced that it has acquired digital board game platform Board Game Arena (BGA) for an undisclosed sum. According to Asmodee executives, BGA has a userbase of five million players and a catalogue of 250 titles, while the platform has [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Zynga posts record revenue and loss; Tencent invests in Bohemia Interactive; and Digi Game trio secure funding from WePlay Ventures. Zynga posts record revenue and loss US mobile developer-publisher Zynga has reported company-record annual revenue of USD$1.97bn (£1.42bn) over 2020, representing a 49% increase from last year. The record takings were driven by sharp increases in user pay revenue, up 59% to USD$1.67bn (£1.21bn), and advertising revenue, which [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: tinyBuild adds three studios; SplashLearn raises USD$18m (£13m); and Nazara Technologies secures INR₹1bn (£9.92m) ahead of IPO. tinyBuild adds three studios Seattle-based publishing group tinyBuild has announced the acquisition of three studios across the United States and Russia, namely We’re Five Games; Hungry Couch; and Moon Moose. Financial terms for the transactions have not been disclosed, however it has been confirmed that each studio will continue to operate [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: EA to acquire Glu Mobile for USD$2.4bn (£1.7bn); Homa Games raises USD$15m (£11m); and Candivore secures USD$12m (£8.7m). EA to acquire Glu Mobile for USD$2.4bn (£1.7bn) Electronic Arts (EA) has announced that it has agreed to publish mobile developer-publisher Glu Mobile for USD$12.50 in cash for each Glu Mobile share, equating to an equity value of USD$2.4bn (£1.7bn) and a total enterprise value of USD$2.1bn (£1.5bn) including the [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Huuuge Games confirms IPO pricing; Road Studio to raise zł2m (£388,000); and TIGA calls for UK games investment fund. Huuuge Games confirms IPO pricing Huuuge Games has confirmed that 33,316,686 shares will be floated through its upcoming initial public offering (IPO) on the Warsaw Stock Exchange (WSE) at a price of zł50 () each, netting the studio zł1.666bn (£323.5m) at a valuation of zł4.20bn (£815m). The offering will [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Activision Blizzard exceeds revenue forecast; Phoenix Games acquires SmileyGamer; and Google exploring Android anti-tracking feature. Activision Blizzard exceeds revenue forecast Activision Blizzard has released its financial results for the fourth quarter and year ending 31st December 2020, revealing that net revenue for the year totalled USD$8.086bn, representing a 20.9% increase from 2019. Revenue for Q4 totalled USD$2.413bn, which exceeded analyst expectations of USD$2.001bn. The climb in bookings has [...]