Sony Has A 5% Stake In Devolver Digital

Devolver Dig­i­tal, the pub­lish­er behind Hot­line Mia­mi and Enter the Gun­geon, has gone pub­lic, and Sony is now a minor­i­ty investor along­side NetEase. GI.biz reports that Devolver Dig­i­tal is now trad­ing pub­licly on the Lon­don Stock Exchange’s sub­mar­ket, AIM. With the offer­ing, Devolver is val­ued around $1 billion.

The report says Sony Inter­ac­tive Enter­tain­ment has made a 5% invest­ment in Devolver. Addi­tion­al­ly, Devolver is receiv­ing $50 mil­lion as part of the offer­ing, which will be used to help the com­pa­ny expand. Exist­ing man­age­ment and investors will get a “cash plac­ing” of $211 million.

An IPO is the right choice for us to ensure our con­tin­ued growth and sup­port even more won­der­ful games,” CEO Dou­glas Morin told GI.biz. “Most impor­tant­ly, it will allow us to retain our cul­ture. Being a pub­lic com­pa­ny gives liq­uid­i­ty to our amaz­ing team, all of whom are share­hold­ers. It also gives us access to cap­i­tal mar­kets to con­tin­ue invest­ing in our growth strat­e­gy and talent.”

Devolver said in state­ment that it under­stands peo­ple might be skep­ti­cal about the com­pa­ny choos­ing to go public.

Today we’ve become a pub­licly trad­ed com­pa­ny. At first blush that can cer­tain­ly sound like a depar­ture from a group of friends start­ing a bou­tique game label, but real­ly it’s a kind of val­i­da­tion for our team and our part­ners. We’re insane­ly proud of what we’ve accom­plished over the last decade, and we gen­uine­ly believe this will make us even bet­ter,” Devolver said.

The employ­ees of Devolver Dig­i­tal are still the major­i­ty own­ers in the com­pa­ny — from those of us at that first pic­nic table meet­ing to those that joined this year, every­one at Devolver Dig­i­tal owns a stake in the com­pa­ny, its future, and its future’s future.”

With the IPO, Devolver is gath­er­ing more cash to invest in games that it would­n’t be able to oth­er­wise. This also allows Devolver to acquire more stu­dios, if they wish.

Over the past year or so we’ve brought our long­time part­ners and friends Croteam (Seri­ous Sam, The Talos Prin­ci­ple), Dodge Roll (Enter the Gun­geon), Ner­i­al (Reigns, Card Shark), and Fire­Fly Stu­dios (Strong­hold series) into the strong but gen­tle arms of Devolver Dig­i­tal,” the com­pa­ny said. “Those devel­op­ers and our team looked ahead and saw that we’d be work­ing togeth­er for­ev­er so we lov­ing­ly acquired them, most­ly so they would hang out with us more. The games and expe­ri­ences that these four stu­dios have planned are incred­i­ble and each main­tain their full cre­ative auton­o­my afford­ed to them through­out our rela­tion­ship. No spe­cif­ic plans for Enter the Gun­geon 2 but rest assured we’ve asked them more than once.”

IvanaHumperlothttp://buttonsmashgamers.com
I am a Platinum lover and an ex- Cod-aholic. I've been playing games since I was 5 years old and I refuse to quit, despite my mother's attempts to get me to. God of War and its successors are my all time favorite games.

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