GDEV increased its stake in Royal Ark — the development studio behind Dawn of Zombies and Zombie Miner
Now the company owns a 57% stake.
Zombie Miner
In the announcement about the deal, GDEV explained that to increase its stake, it used a so-called conversion option. Following this, GDEV and Royal Ark agreed on new terms of cooperation.
The studio will continue to be led by its founder, Leonid Sirotin. He will remain responsible for ongoing business processes, product development, and team growth. In turn, GDEV will now undertake strategic oversight of Royal Ark at the portfolio level: if necessary, it will share resources and expertise with the studio.
GDEV first acquired a stake in Royal Ark in January 2022. At the time, this was part of a deal with Castcrown Limited, the company owning the brand of the same name.
As noted by GDEV, in 2022, the studio's main game was the mobile survival game Dawn of Zombies. Although the title generated good revenue, its growth potential proved limited, so in early 2024, Royal Ark, in collaboration with GDEV, soft-launched the more casual Zombie Miner. The new release was successful. Within a year and a half, Zombie Miner garnered over 17 million downloads, and its revenue for the period from January to June 2025 alone amounted to $23 million.