Gaming
£90m sale of nDreams provides exit for Mercia
nDreams – a leading UK virtual reality (VR) studio that specialises in developing and publishing VR games – has been acquired by Stockholm-based Aonic AB in a £90.3m ($110m) deal.
The transaction provides an exit for nDreams’ investor Mercia Asset Management, which held a 33.2% direct stake in the company. It achieved a total return of £30.2m, consisting of £26.4m in cash and a £3.8m stake in Aonic, and representing a 2.7x return on investment and a 18.4% IRR.
nDreams, which is headquartered in Farnborough, was founded by Patrick O’Luanaigh in 2006. The company has more than doubled the size of its team, from around 100 at the start of 2001 to 250, including 195 developers working across four studios on a range of high- potential projects. These include recent launches Ghostbusters: Rise of the Ghost Lord, in collaboration with Sony Pictures Virtual Reality and Meta, and the Meta Quest chart topper Powerwash Simulator VR.
Aonic is diversified video gaming group with a strong position in the VR and augmented reality (AR) industry and made an initial $35m investment into nDreams in March 2022. This investment helped support nDreams’ acquisition of Near Light Limited, a Brighton-based VR and AR game development studio, organic investment into new game developments as well as its broader growth strategy.
Mercia was one of the first investors to anticipate the growth of VR. Its initial £0.3m investment in nDreams was made in March 2014, prior to Facebook’s acquisition of Oculus VR, which is regarded as a landmark deal in the industry. Mercia initially invested through its managed funds, later using capital from its own balance sheet.
Julian Viggars, CIO of Mercia Asset Management and nDreams’ board member, commented: “When we first invested in nDreams we had a high conviction in the potential of VR gaming, and this realisation is a strong validation of that thesis. We have proactively supported nDreams since 2014 and are pleased that we will continue to benefit from their continuing growth as part of Aonic, through our partial reinvestment. We look forward to nDreams continuing on its exciting VR and AR journey within a larger gaming group and congratulate Patrick O’Luanaigh and his nDreams team on all that they have achieved thus far
Dr Mark Payton, CEO of Mercia Asset Management PLC, said: “This trade sale represents another profitable outcome for Mercia, realising a significant return which is above our current holding value, predominantly in cash. This latest successful exit further adds to our strong debt free cash position, which now stands at circa £60m. We look forward to announcing Mercia’s Interim Results on 28 November 2023.”
Gaming
4Players and ODIN deliver cutting-edge voice chat for Gray Zone Warfare
The globally operating software company 4Players GmbH announces its partnership with MADFINGER Games, the developer behind the highly anticipated tactical first-person shooter Gray Zone Warfare. The collaboration aims to level up in-game communication by integrating 4Players’ next generation Voice Chat SDK, ODIN, into MADFINGER Games’ upcoming title.
MADFINGER Games’ goal is to create a complex and realistic gaming experience that allows players to embark on an adventure alone or in a team. To ensure excellent communication during tactical approaches, ODIN was the best choice for MADFINGER Games’ Technical Director Johanny Clerc-Renaud:
“Selecting ODIN as the voice chat in our upcoming title, Gray Zone Warfare, was a pivotal decision driven by both technical and business considerations. Technically, ODIN ticks a lot of our criteria with its support for spatial audio, a ready-to-deploy Unreal Engine 5 plugin and the ability to meet any player load thanks to their cloud hosting.
From a business perspective, the agility and openness of partnering with a company like 4Players meant we could work hand-in-hand to tailor the solution to our specific needs. This includes a seamless integration with Wwise, allowing us to modulate voice data for a more immersive and engaging player experience. Together, these factors made ODIN the undeniable choice for Gray Zone Warfare, enabling us to make our game even more memorable.”
By natively integrating ODIN Voice Chat into Unreal Engine 5, MADFINGER Games’ developers could focus on creating ultra-realistic game content instead of managing complex data sets. By leveraging ODIN’s scalable cloud hosting, MADFINGER Games can also ensure seamless service delivery to players worldwide, improving accessibility and the gaming experience.
With features such as real-time 3D spatial audio – including audio occlusion and ambient effects – for the global voice chat as well as full-volume radio communication, ODIN sets a new standard for multiplayer engagement and promotes immersive and crystal-clear interactions between players. This level of immersive communication not only enhances gameplay, but also strengthens the social fabric in the gaming community.
“ODIN represents the future of in-game communication. We combine cutting-edge technology with decades of expertise in the gaming industry to create a product that is fun and designed to improve gamers’ communication,” says Phillip Schuster, CEO at 4Players GmbH. “We are excited to be working with MADFINGER Games to further optimize the immersion of Gray Zone Warfare. The partnership highlights our shared goal of driving social interaction and creating a unique gaming experience.”With the release of Gray Zone Warfare for Early Access on 30th April 2024, players will experience unparalleled realistic gaming communication with ODIN.
Gaming
Phoenix Games acquires PopReach Games along with its impressive games portfolio and over 100 employees
Phoenix Games, a global gaming enterprise specializing in the acquisition and enhancement of game studios, is thrilled to announce the acquisition of PopReach Games, a live operations studio based in Bengaluru, India, from Ionik for a total aggregate purchase price of up to US$9.8 million, financed from cash reserves. Together with the studio, Phoenix takes over a broad portfolio of free-to-play games that boasts more than 420 million lifetime downloads.
This transaction substantially diversifies the Phoenix portfolio by including globally recognized IPs and beloved free-to-play titles on different platforms, such as Smurf’s Village, Smurf’s Magic Match, Gardens of Time, Kitchen Scramble games, Kingdoms of Camelot, and War of Nations as well as the Brain Training app Peak..
The acquisition of PopReach Games India strengthens Phoenix Games’ global presence and adds a dedicated workforce of more than 100 employees from the Indian studio.
“The acquisition of PopReach Games signifies a remarkable enhancement of our portfolio, introducing not just a team of 100 passionate professionals but also a suite of globally acclaimed IPs and games that continue to captivate millions,” states Klaas Kersting, CEO of Phoenix Games. “We look forward to elevating these games to new heights with our proprietary Uplift platform and exciting new game experiences that we can craft around them.
Echoing this sentiment, Jairaj NS, General Manager at PopReach Games India, shares, “I am excited about joining forces with the stellar team at Phoenix Games. This marks the beginning of an exciting journey we can’t wait to embark on with Phoenix as our new home. This is great news for all the stakeholders, especially for the millions of our loyal players across the globe. I am happy we have found a new ideal home for our globally acclaimed games. This partnership enables us to continue pouring our hearts and souls into creating unforgettable experiences for our players worldwide and create value for stakeholders.”
Ted Hastings, CEO of Ionik, adds: “It’s truly remarkable that we’ve discovered the perfect home for our former games division, PopReach Games India, with Phoenix Games, ensuring a promising and successful path ahead. This strategic move enables us to turn our full attention to our core responsibilities”.
Based in Karlsruhe, Germany, Phoenix Games boasts an impressive lineup of studios, including Upright Games, Sixteen Tons Entertainment, Well Played Games, Smileygamer, and the recent addition of Canadian developer Sad Panda Studios in November 2023.
Utilizing its proprietary Uplift platform, Phoenix Games enhances the financial performance and reach of the titles of acquired game studios, providing their expertise in user acquisition, ad monetization, and live operations to ensure an economic upswing.
Gaming
Midjiwan Supports Reforestation Efforts With New Elyrion Tribe Skin In The Battle Of Polytopia
Midjiwan, the award-winning independent studio behind The Battle of Polytopia, is celebrating Elyrion (∑∫ỹriȱŋ) Tribe Week with a brand-new Midnight (₼idŋighţ) skin and donations to support reforestation.
Tapping into the Elyrion Tribe’s nature magic abilities, every purchase of an Elyrion item in the game will plant one real-world tree from April 22-28 2024. Midjiwan has teamed up with The Canopy Project, an organisation that works with global partners to reforest areas in urgent need of rehabilitation, combining The Battle Of Polytopia’s themes with a desire to make real change in the world. Previous years of Elyrion Tribe Week have resulted in the planting of over 12,000 trees.
The Elyrion Tribe is a mysterious group of elves, dedicated to defending their woodland home with their unique magic and connection with nature. Players using the Elyrion tribe have the ability to enchant animals into Polytaurs and summon powerful Fire Dragons.
Christian Lövstedt, General Manager at Midjiwan, commented:
“This is a hugely exciting partnership, allowing players to support the planet and contribute to reforestation whilst also accessing brilliant new content to use in The Battle Of Polytopia.”
Alongside donating to The Canopy Project, The Battle Of Polytopia also boasts a brand-new skin for the Elyrion Tribe! The Midnight skin allows players to create graves, build crypts, and summon demons in dark forests, all in service of the mysterious Shard of D’Naeh.
The Midnight skin re-skins the entire Elyrion Tribe as the Midnight Cult. Everything the Elyrion Tribe is all about – nature, enchantment, and sanctuary – is turned on its head, corrupted into a dark, twisted dystopia of itself.
Midjiwan has already invested €250,000 in solar power projects in rural areas around Africa, and other charitable projects. The studio continues to seek opportunities to combine its in-game creativity with real-world benefits. The Battle of Polytopia is available on Nintendo Switch, the App Store, Google Play, PC, and Tesla cars.
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