Written by Dante Uzel on 08 July 2024 12:24
Kwalee, a UK-based games publisher and developer, has invested in Devolver Digital by acquiring equity in the company. This strategic investment forms part of Kwalee's broader growth strategy, aiming for balanced expansion. Kwalee praised Devolver Digital as a standout brand known for its pioneering games.
According to the release, Devolver Digital facilitated this investment by issuing £7.9m worth of new shares, representing 5.4 percent of its total share capital. This equity placement was intended to bolster Devolver's financial position and enhance its balance sheet.
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David Darling CBE stated "There is no doubt conditions in the gaming industry remain challenging in the near-term but I am confident in the sector’s long-term future. However, the economics of the industry are changing, with an increasing need for scale and financial strength in an industry where access to funding has all but dried up. Kwalee has ambitious plans for growth and will invest and work with the leading players in the industry as we pursue our mission to make the most fun games for the world’s players.”
Tags: Kwalee Devolver Digital
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