Devolver Digital Goes Public, Sony Purchases Minority Stake
Game publisher Devolver Digital went public this week, confirming the news via a blog post. Beginning the morning, the publisher went public on AIM, a market within the London Stock Exchange with the value of the indie publisher to be close to $1 billion.
When the company went live this morning, Devolver Digital raised $261 million at the same time, bringing the value up immensely.
“Sometime in 2009, a handful of us sat down in Austin, Texas to launch a new video game label that would embrace the fun in video games and never let go. The label would invite developers from around the world to partner with a team of passionate folk whose sole focus is to make their artistic vision a reality.”
“Since then we like to think we’ve done just that. Devolver Digital has grown in many ways from that first picnic table meeting over beers, but our team is still driven to bring interesting and unusual games to the forefront and help developers and our fellow Devolvers achieve their dreams.”
‘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.”
This move makes Devolver Digital the largest US-based company by “market capitalization to be admitted to the London Stock Exchange, and the second-largest company ever to trade on AIM,” report GI.biz
Working with Fieldfisher, a European law firm advising Devolver, the publisher was able to secure “significant” investment from a “key industry player”. Sony Interactive Entertainment is making a 5% investment in the company, too.
“An IPO is the right choice for us to ensure our continued growth and support even more wonderful games,” he said. “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.”
Over the years, Devolver Digital has published a ton of amazing titles, beginning with Serious Sam HD and most recently, Inscryption. It is now one of the most recognizable brands in the industry and has some major hitters batting for them, including Death’s Door, and next year’s Weird West.