The studio was purchased for $110 million and saw both Patrick and Tamsin O’Luanaigh stay on as CEO and CPO, and also the executive team.
“We set up nDreams in 2006, pivoted to focus exclusively on VR games in 2013, and we’re proud of everything we’ve achieved as an independent company,” said nDreams CEO Patrick O’Luanaigh. “After 18 months of working together, we’re confident we’ve found the right partner in Aonic. This is the right moment to welcome their support to strengthen our position even further, and seize this critical moment for VR and MR.”
Aonic previously held a minority stake in nDreams which it bought in for $35 million.
“NDreams has done an unparalleled job bringing some of the biggest VR titles to market, and it was a natural fit for us to welcome them to the Aonic family and provide our studios with the best team when it comes to the VR/MR gaming space,” says Paul Schempp, CEO of Aonic. “This acquisition is yet another example of Aonic’s commitment to championing mid-sized studios and creating an environment where teams can create fantastic games.”