Gaming
£90m sale of nDreams provides exit for Mercia
nDreams – a leading UK virtual reality (VR) studio that specialises in developing and publishing VR games – has been acquired by Stockholm-based Aonic AB in a £90.3m ($110m) deal.
The transaction provides an exit for nDreams’ investor Mercia Asset Management, which held a 33.2% direct stake in the company. It achieved a total return of £30.2m, consisting of £26.4m in cash and a £3.8m stake in Aonic, and representing a 2.7x return on investment and a 18.4% IRR.
nDreams, which is headquartered in Farnborough, was founded by Patrick O’Luanaigh in 2006. The company has more than doubled the size of its team, from around 100 at the start of 2001 to 250, including 195 developers working across four studios on a range of high- potential projects. These include recent launches Ghostbusters: Rise of the Ghost Lord, in collaboration with Sony Pictures Virtual Reality and Meta, and the Meta Quest chart topper Powerwash Simulator VR.
Aonic is diversified video gaming group with a strong position in the VR and augmented reality (AR) industry and made an initial $35m investment into nDreams in March 2022. This investment helped support nDreams’ acquisition of Near Light Limited, a Brighton-based VR and AR game development studio, organic investment into new game developments as well as its broader growth strategy.
Mercia was one of the first investors to anticipate the growth of VR. Its initial £0.3m investment in nDreams was made in March 2014, prior to Facebook’s acquisition of Oculus VR, which is regarded as a landmark deal in the industry. Mercia initially invested through its managed funds, later using capital from its own balance sheet.
Julian Viggars, CIO of Mercia Asset Management and nDreams’ board member, commented: “When we first invested in nDreams we had a high conviction in the potential of VR gaming, and this realisation is a strong validation of that thesis. We have proactively supported nDreams since 2014 and are pleased that we will continue to benefit from their continuing growth as part of Aonic, through our partial reinvestment. We look forward to nDreams continuing on its exciting VR and AR journey within a larger gaming group and congratulate Patrick O’Luanaigh and his nDreams team on all that they have achieved thus far
Dr Mark Payton, CEO of Mercia Asset Management PLC, said: “This trade sale represents another profitable outcome for Mercia, realising a significant return which is above our current holding value, predominantly in cash. This latest successful exit further adds to our strong debt free cash position, which now stands at circa £60m. We look forward to announcing Mercia’s Interim Results on 28 November 2023.”
Asia
KGeN launches India’s first VALORANT virtual training academy ‘LIFT//OFF’
KGeN, a community led gaming platform and Riot Games have partnered for the launch of LIFT//OFF, a community-led & data-driven online training academy to forge the next set of professional VALORANT athletes. This program will allow everyday gamers to make a mark, whether it is through their in-game achievements or showing off their skills at a global stage.
The program sets a new standard as a community-driven program by strategically selecting gaming content creators as ‘creators’ and seasoned competitive gamers as ‘trainers’, from the VALORANT community to lead this training academy. They will select 20 creators from a pool of applicants, these creators will then form their own teams from within their communities. Each creator will either select 5 players for their team or play alongside 4 players, forming a total of 60 to 80 players. Additionally, 20 trainers will be selected, with each assigned to one of the 20 creator-led teams.
A gamer’s in-game VALORANT performance, including stats like hours played, win rates, successful kills, headshot percentage, and KDR, combined with their social standing in the community, such as tournament wins, content creation skills, and positive feedback, will be the foundation for selecting the first group of Trainers, Creators, and esports recruits for LIFT//OFF.
LIFT//OFF will offer all participants a first of its kind opportunity to connect with the global esports community. Top-performing teams will have the chance to showcase their skills in official VALORANT tournaments. Additionally, creators and trainers will receive official VALORANT merchandise, highlighting their involvement in shaping this program and contributing to the growth of the esports community in India. The program will include a mentor cohort which will captivate and engage a diverse audience.
The program aims to not only elevate the skills of esports recruits but also cultivate the next generation of esports idols. The program’s teachings extend beyond in-game strategies to encompass the broader aspects of life as an esports professional. By mentoring participants in every facet of the player’s social persona, KGeN seeks to use data to build the reputation and “gamer cred” of everyone involved, ensuring they are well-rounded individuals ready for the spotlight. Data-driven insights will be used to tailor tutorials and challenges, helping each participant address specific areas where they need help.
LIFT//OFF Roadmap
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Launch (Sep 18) – Applications for Creators, Trainers & Recruits go live.
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Last Date to Apply (Oct 10) – Last date for Creators, Trainers & Recruits to apply.
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Weekly & Daily Challenges Leaderboard (Nov 4 – 26) – In this period, players can take part in-game challenges to test their learning and also win rewards from the leaderboard.
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Finale (Nov 30 – Dec 3) – LIFT//OFF will feature a final tournament, to assess the learnings of the Recruits and the teaching effectiveness of Trainers.
How To Apply?
To join the LIFT//OFF program, select the role that best suits you and fill out the required details in the application form. A KGeN representative will reach out to you shortly to guide you through the next steps.
The post KGeN launches India’s first VALORANT virtual training academy ‘LIFT//OFF’ appeared first on European Gaming Industry News.
Gaming
Evoplay rolls out successful third-person shooter title Star Guardians to wider operator network
Evoplay, the award-winning game development studio, has expanded the availability of its groundbreaking skill-based title, Star Guardians to all its partners following a successful exclusive release.
Star Guardians blends the mechanics of slot games with the immersive action of third-person shooters. Players can choose from a range of unique characters, each equipped with their own special boosters and abilities, adding layers of strategy and customisation.
The game can be experienced in automatic or manual mode, where movement and shooting are controlled by the player, enhancing the skill-based element of the title.
Released as Evoplay’s flagship title in 2021, Star Guardians was originally released on an exclusive basis for operators. Due to its exceptional performance and popularity, the game is now being rolled out to the studio’s wider partner network.
Evoplay has continued to hone in on skill-based gaming experiences, including its most recent flagship title, the 3D racing game Adrenaline Rush which is currently available as an exclusive to its partners.
Ivan Kravchuk, CEO at Evoplay, said: “By merging role playing game elements with gambling, Star Guardians delivers an innovative and unique gaming experience for players.
“As a first-of-its-kind title, Star Guardians has consistently grown in popularity since its debut. With Gen-Z and millennial audiences playing an increasingly significant role in shaping the industry, we expect this wider release to drive even greater success.”
The post Evoplay rolls out successful third-person shooter title Star Guardians to wider operator network appeared first on European Gaming Industry News.
Gaming
BGaming introduces first bird’s eye view crash game Top Eagle
Popular iGaming content provider BGaming has released its new take on the popular crash game genre with Top Eagle. The title has five unlockable plane skins on top of the default one, motivating personal milestones, a flight history bar and an altitude meter which registers multiplier levels.
Brave players must take off and then open their parachute ahead of the plane’s unfortunate crash. After landing safely and winning the prize, their bets will be multiplied. The altimeter at the bottom right of the screen registers the distance the aircraft covers and reflects the possible winning multiplier. Players who cash out after x2, x5, x10, x50 or x100 unlock additional skins for their plane, with one skin per milestone available.
Further tailored milestones await in Top Eagle, with a special Best Drop icon on the top right of the game field. This displays the highest multiplier value scored throughout the gaming session, while the Leading badge is earned once the plane successfully surpasses the player’s previous longest attempt.
During each round, the bar at the top of the main game records the biggest multiplier reached before crashing. If the player successfully cashes out, the multiplier shows as white, while a non-winning round remains pale grey.
As in other BGaming crash games, Top Eagle’s autoplay mode allows players to preset the number of flights they wish to take, while the automatic cashout gives them the chance to set a multiplier value at which the game will cash out.
Players may also switch between two energetic soundtracks, “Attack” or “Recon”, to dictate the atmosphere of the game, while changing the skin of their plane as they make progress through the game.
Mikalai Dzeneladze, Chief Casual Game Producer at BGaming, said: “Crash games have quickly become a staple in our portfolio, with their appeal stretching across many regulated markets, including LatAm. With its unique top-down view which offers diversity of the background and the illusion of flight, players will remain engaged for longer.
“This game is not to be missed by both long-term crash game fans looking for a new experience, and new players trying the genre for the first time.”
The post BGaming introduces first bird’s eye view crash game Top Eagle appeared first on European Gaming Industry News.
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