Famous indie video game company Devolver Digital recently went public, and one of the first buyers who showed up to buy stock was none other than Sony. Let’s see the details below, also to understand what the future of the company will be!
For those who are not in the know, Return Digital is a famous manufacturer of several major indie video games. Popular games include the likes of Hotline Miami, Fall Guys and most recently Death’s Door. The company recently decided to go public, marking an important step for its growth. Of all the initial stock buyers, one in particular has attracted attention: it seems in fact that Sony is willing to buy a minority stake by Devolver Digital. Let’s see what it might entail below!
Sony acquires a minority stake in Devolver Digital
Devolver Digital is currently on AIM, a submarket of the London Stock Exchange addressed to small and medium-sized enterprises. The listing has allowed the company to be evaluated almost 1 billion dollars. The news of the acquisition of a minority stake in Devolver Digital (in particular, it is a 5% investment) from Sony comes from Gamindustry, which gives all the details. Sony itself had said last week it experienced a 20% growth during this fiscal year after the acquisition of various development studios, and that it could therefore continue.
Going back to talking about Devolver, Fieldfisher, the European law firm that advises Devolver, confirmed the news stating that it has received “significant strategic investment by a key economic player in the sector“. Devolver’s CEO too Douglas morin he broadly explained the reasons behind the important decision to go public:
An initial public offering is the right choice for us to ensure our continued growth and support even more wonderful games. Above all, it will allow us to maintain our culture. Being a public company gives liquidity to our fantastic team, made up of all shareholders. It also gives us access to capital markets to continue investing in our growth and talent strategy.
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