Griffin Gaming Companions, a video game-focused enterprise fund, has acquired indie writer Playdigious from Swedish firm Fragbite in a €10.5 million ($12.2 million) deal.
Playdigious focuses on cell ports and introduced titles like Chants of Sennaar and Loop Hero to smartphones. It additionally operates a publishing label known as Playdigious Originals, which at the moment has 4 video games in its portfolio.
Notably, the deal will see Fragbite retain 90 % of web income generated from Playdigious Originals’ present PC catalog. Griffin Gaming Companions paid money to accumulate all shares in Playdigious alongside the entire firm’s belongings and all sport publishing rights.
Fragbite CEO Stefan Tengvall mentioned the acquisition and subsequent sale of Playdigious is indicative of a “profitable funding.”
“Playdigious was acquired in 2021 and has been a profitable funding. We now received the chance to divest the subsidiary in a beneficial deal that enables us to safe a powerful capital place, evolve Fragbite Group additional and assist new strategic initiatives such because the Bitcoin Treasury initiative,” mentioned Tengvall.
“Fragbite Group’s shut ties to Playdigious, with founders Xavier Liard and Romain Tisserand and CEO Abrial Da Costa, are sturdy and our collaboration continues. Now we have at all times been very pleased with the Playdigious workforce, and I wish to thank all workforce members for being such a constructive a part of the group these years. I imagine Playdigious will proceed to develop along with the extremely educated workforce at Griffin Gaming Companions.”
Fragbite Group now consists of Fragbite, its esports match and livestreaming platform; Config, an esports and gaming content material home; and cell developer Enjoyable Rock & Prey Studios, which made MMA Supervisor 2: Final Battle.
Fragbite famous that Playdigious was its largest subsidiary and delivered 77 % of complete income in 2024. Following the sale, Fragbite expects to turn into self-sustaining with 6 to 12 months. Though it’ll make much less transferring ahead, it’ll additionally incur fewer prices.
The corporate will additional define the monetary influence of the divestment in its upcoming third quarter earnings report.
