TinyBuild has purchased two new studios to add under its banner – Versus Evil and Red Cerberus. The deal was completed for a sum of $12.5 million in cash, with upwards of a potential 18.8 million in earnings bringing the total to $31.3 million.
Versus Evil will operate as it has, serving as its own publishing label specializing in RPGs and strategy games. TinyBuild adds 32 titles to its portfolio with the acquisition.
Red Cerberus is a quality assurance studio for Versus Evil, located in São Paulo, Brazil. There are currently 250 employees there joining TinyBuild.
“Back in March we laid out a very clear strategy: we want ambitious founders to join us and help bring the company to a new level, together. This included several pillars for our M&A strategy, 3 of which are: a complimentary publishing label, an in-house service provider, and strategic expansion into emerging regions such as South America.
With Versus Evil and Red Cerberus, we achieve these 3 strategic goals. Steve Escalante is an industry veteran and built this great business, and we’re here to help take it to the next level. Welcome to the orange family!” says Alex Nichiporchik, Co-Founder and CEO of TinyBuild.