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Swedish video games staff Aonic has gained €152 million ($160m) in funding for additional M&A process and to improve ongoing building throughout its studios.
Eu funding company Metric Capital Companions has pumped €100m ($105m) into the company. Aonic majority shareholder Energetic Possession, in the meantime, has contributed further funding through changing its €52m ($55m) shareholder mortgage.
Aonic and shareholder Energetic Possession have been urged through UBS and DLA Piper. Metric was once urged through Dechert, 8Advisory and Grant Thornton.
Rising video games staff
Aonic has snapped up quite a few building, publishing and repair firms since its formation in 2021. Firms it owns come with digital fact developer nDreams, consumer acquisition platform Exmox, advert monetisation equipment supplier Gravite, and cellular studios Pink Video games Co and TutoToons.
Its portfolio additionally comprises OtherSide Leisure, headed up through Warren Spector, and Megabit Publishing, amongst others.
The corporate mentioned the funding got here because it reported a 73% build up in staff income all over the previous yr.
It’s price noting that Aonic introduced its Megabit Publishing department firstly of the yr and completely obtained nDreams in November 2023. Different acquisitions final yr incorporated Tiny Roar, Otherside Leisure and Milky Tea.
In September, nDreams introduced it was once set to put off 17.5% of its staff amid a “difficult” VR marketplace and “difficult gaming panorama”. The redundancies have been mentioned to doubtlessly affect all ranges of body of workers.
