PlayStation has reportedly made a 5% investment in Devolver Digital
As the US indie publisher begins floating on the London Stock Exchange
Sony Interactive Entertainment is reportedly set to make a five percent investment in Devolver Digital.
The PlayStation maker will acquire a minority stake in the US-based publisher, which today began floating on London Stock Exchange, GamesIndustry.biz reports.
Devolver Digital is now trading on AIM, a sub-market of the London Stock Exchange, following a floatation that values the company at almost $1 billion.
The European law firm advising Devolver, Fieldfisher, confirmed it had received a “significant strategy investment from a key industry player”.
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Founded in 2009, the Austin, Texas-based company is the publisher of many high-profile indie games including Hotline Miami, Fall Guys and more recently Death’s Door.
Its upcoming titles include Weird West, Shadow Warrior 3, Demon Throttle and The Talos Principle 2.
“An IPO is the right choice for us to ensure our continued growth and support even more wonderful games,” said Devolver CEO Douglas Morin. “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.”
In an update on its website, Devolver elaborated on what becoming a publicly traded company will mean for the future of the business.
“This means Devolver Digital will be able to continue to invest into all the games we’re working on now, partner on new ones that we’ve previously not been able to consider, and add more of the fine people we love working with into our cadre of consummate video game professionals,” it said.
“That last point is an important one – 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.
“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.”
Sony Interactive Entertainment said last week that its development workforce has grown by almost 20% this fiscal year following a string of studio acquisitions – and the company suggested that more developer buyouts could be on the way.