Griffin Gaming Partners to Acquire Playdigious
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News/Griffin Gaming Partners to Acquire Playdigious
Griffin Gaming Partners to Acquire Playdigious
Fragbite Group has announced the sale of its mobile publishing subsidiary, Playdigious, to venture capital firm Griffin Gaming Partners for €10.5 million ($12.2 million). The divestment marks a significant shift for Fragbite, which has held a controlling stake in Playdigious since acquiring the company in 2021.
As part of the agreement, Fragbite will retain 90% of the net revenue generated from PC games under its publishing arm, Playdigious Originals. Notably, Playdigious is best known for publishing successful mobile titles like Dead Cells and Cultist Simulator, along with handling Nintendo Switch releases.
Fragbite Group described the divestiture as a strategic move that strengthens its capital position, allowing the company to support new initiatives, including its Bitcoin Treasury project. While Playdigious was Fragbite's largest subsidiary, contributing 77% of the company's revenue in 2024, the group emphasized that the divestment would not alter its broader business strategy.
In a statement, CEO Stefan Tengvall reflected on Playdigious' successful acquisition, noting, "Playdigious was acquired in 2021 and has been a successful investment. We now got the opportunity to divest the subsidiary in a favourable deal that allows us to secure a strong capital position, evolve Fragbite Group further and support new strategic initiatives."
Tengvall also expressed continued optimism for Playdigious' future, despite the change in ownership. "We have always been very proud of the Playdigious team, and I want to thank all team members for being such a positive part of the group these years. I believe Playdigious will continue to grow together with the highly knowledgeable team at Griffin Gaming Partners and wish them the best of luck in future endeavours."
More:Method Partners with Theta Labs
Griffin Gaming Partners to Acquire Playdigious
Fragbite Group has announced the sale of its mobile publishing subsidiary, Playdigious, to venture capital firm Griffin Gaming Partners for €10.5 million ($12.2 million). The divestment marks a significant shift for Fragbite, which has held a controlling stake in Playdigious since acquiring the company in 2021.
As part of the agreement, Fragbite will retain 90% of the net revenue generated from PC games under its publishing arm, Playdigious Originals. Notably, Playdigious is best known for publishing successful mobile titles like Dead Cells and Cultist Simulator, along with handling Nintendo Switch releases.
Fragbite Group described the divestiture as a strategic move that strengthens its capital position, allowing the company to support new initiatives, including its Bitcoin Treasury project. While Playdigious was Fragbite's largest subsidiary, contributing 77% of the company's revenue in 2024, the group emphasized that the divestment would not alter its broader business strategy.
In a statement, CEO Stefan Tengvall reflected on Playdigious' successful acquisition, noting, "Playdigious was acquired in 2021 and has been a successful investment. We now got the opportunity to divest the subsidiary in a favourable deal that allows us to secure a strong capital position, evolve Fragbite Group further and support new strategic initiatives."
Tengvall also expressed continued optimism for Playdigious' future, despite the change in ownership. "We have always been very proud of the Playdigious team, and I want to thank all team members for being such a positive part of the group these years. I believe Playdigious will continue to grow together with the highly knowledgeable team at Griffin Gaming Partners and wish them the best of luck in future endeavours."
More:Method Partners with Theta Labs
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