Focus Home Interactive raised €70 million to expand and buy new studios
Publisher Focus Home Interactive continues to search for new studios for acquisition and investment. For these purposes, the company raised €70.35 million through the sale of its own shares.Curse of the Dead Gods
In total, Focus Home Interactive offered 1.05 million shares for purchase at a price of €67 apiece.
This is equivalent to 19.7% of all the company’s securities.
The
publisher plans to spend the funds on “medium- and long-term growth.” This means raising development budgets, updating the line of games and investing in new studios. A special internal group will help the company to be active in the M&A market, which will deal with such transactions.The last major investment of Focus Home Interactive was the purchase of Streum On Studio — the authors of shooters under the license of Warhammer 40K, including the upcoming action Necromunda: Hired Gun. Last year, the company also acquired Deck13 studio (creators of the action RPG The Surge).
At the end of April, Focus Home also released figures for the 2020 fiscal year. During the reporting period (ended March 31), the company earned €171 million, which was a record for the publisher. The main drivers of growth were SnowRunner, Hardspace: Shipbreaker and Curse of the Dead Gods, as well as back catalog sales.
