Developer and publisher Kwalee has acquired a minority stake in indie label Devolver Digital.
In a release, the company announced that it was now the proud owner of 3.58 per cent of the indie publisher. This investment is apparently designed to help Kwalee expand beyond its hyper casual mobile core business.
“I would like to thank Harry and the Devolver team for giving us the opportunity to invest in such a fantastic brand and category defining games,” Kwalee founder David Darling CBE said.
“There is no doubt conditions in the gaming industry remain challenging in the near-term but I am confident in the sector’s long-term future. However, the economics of the industry are changing, with an increasing need for scale and financial strength in an industry where access to funding has all but dried up. Kwalee has ambitious plans for growth and will invest and work with the leading players in the industry as we pursue our mission to make the most fun games for the world’s players.”
PCGamesInsider Contributing Editor
Alex Calvin is a freelance journalist who writes about the business of games. He started out at UK trade paper MCV in 2013 and left as deputy editor over three years later. In June 2017, he joined Steel Media as the editor for new site PCGamesInsider.biz. In October 2019 he left this full-time position at the company but still contributes to the site on a daily basis. He has also written for GamesIndustry.biz, VGC, Games London, The Observer/Guardian and Esquire UK.