Embracer Group Holding acquired VR developer Vertigo Games for €50 million
Embracer Group continues to buy studios. Today, the Swedish holding company announced the acquisition of the Dutch developer of VR games Vertigo Games. The transaction amount was €50 million.The purchase was made through a subsidiary of Koch Media.
As part of the deal, Embracer Group will absorb 100% of the share capital of Vertigo Games, paying €40 million in cash and another €10 million in B-shares.
The Dutch studio will be directly subordinate to Deep Silver, which is part of Koch Media. At the same time, Vertigo Games will retain independent leadership and continue to develop projects for virtual reality helmets.
CEO of Koch Media Klemens Kundratitz highly appreciates the prospects of the VR market: “It seems to us that now is the time to expand our activities into a fast-growing market. I am sure that we are on the threshold of technological development of virtual reality and the opportunities that it can offer players.”
Vertigo Games has been developing VR games since 2013. Their most popular project is the cooperative zombie shooter Arizona Sunshine. The game became the fourth in the list of the best-selling VR titles over the past two years and sold 1 million copies.Now the studio is developing the game After the Fall, which takes place in post-apocalyptic Los Angeles and allows you to play in a cooperative of up to four people. The developers call it their most ambitious project.
This year Embracer Group is actively buying up game studios. In August, the holding acquired eight companies at once, including Metro developers, and raised almost $200 million to purchase new developers.
Also on the topic:- Embracer Group Annual Report: Operating profit of $120 million and purchase of new studiosEmbracer Group, through its Koch Media division, acquired the French studio Voxler
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