23rd Nov 2021 19:19
tinyBuild Inc - video games publisher and developer - Acquires US-based video game publisher Versus Evil LLC and subsidiary Red Cerberus for up to USD31.3 million in cash and shares.
Versus Evil has published 32 titles on all major platforms, including the RPG series known as The Banner Saga series and 2D stealth action-adventure game UnMetal.
tinyBuild will pay an initial USD12.5 million in cash, alongside deferred payments over three calendar years being settled through the issue of new shares of up to USD18.8 million.
The company expects the deal to be marginally accretive in 2021.
"As a public company, we have a powerful platform from which we can deliver on our organic and M&A growth ambitions. We are delighted to announce the acquisition of Versus Evil, a highly-regarded global video games publisher, as we continue to scale up our ambitions. Red Cerberus also gives us the opportunity to expand our access to talent in South America," says Chief Executive Officer Alex Nichiporchik.
"Our goal is to expand our position as a leading global developer and publisher, focusing on IP ownership while creating long-term scalable franchises across multiple media formats. In addition, we are actively looking at a number of other potential acquihires and larger scale acquisitions to enhance our strategic and operational position," he adds.
Current stock price: 207.50 pence
Year-to-date change: down 4.6% since March 9
By Dayo Laniyan; [email protected]
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