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Swedish video games group Aonic has obtained €152 million ($160m) in funding for additional M&A exercise and to help ongoing improvement throughout its studios.
European funding agency Metric Capital Companions has pumped €100m ($105m) into the agency. Aonic majority shareholder Energetic Possession, in the meantime, has contributed additional funding by changing its €52m ($55m) shareholder mortgage.
Aonic and shareholder Energetic Possession have been suggested by UBS and DLA Piper. Metric was suggested by Dechert, 8Advisory and Grant Thornton.
Rising video games group
Aonic has snapped up quite a lot of improvement, publishing and repair firms since its formation in 2021. Firms it owns embrace digital actuality developer nDreams, consumer acquisition platform Exmox, advert monetisation instruments supplier Gravite, and cell studios Pink Video games Co and TutoToons.
Its portfolio additionally contains OtherSide Leisure, headed up by Warren Spector, and Megabit Publishing, amongst others.
The corporate stated the funding got here because it reported a 73% enhance in group income in the course of the previous yr.
It’s price noting that Aonic introduced its Megabit Publishing division at the beginning of the yr and absolutely acquired nDreams in November 2023. Different acquisitions final yr included Tiny Roar, Otherside Leisure and Milky Tea.
In September, nDreams introduced it was set to put off 17.5% of its staff amid a “difficult” VR market and “powerful gaming panorama”. The redundancies have been stated to probably impression all ranges of employees.
