An interesting move today from indie publisher tinyBuild Games as they have acquired fellow indie game developer Versus Evil. The deal comes as part of a two-part acquisition as they have also have taken over the Sao Paulo-based QA and testing studio Red Cerberus. The deal was made with maximum consideration of up to $31.3m ($12.5m upfront + $18.8m in earnouts over three years), which is about the only official account they made on the financial end of things. As far as the day-to-day operations, Versus Evil will continue as a complementary publishing label, who will primarily be focused on RPGs and turn-based strategy titles, but could be used to make other games. Meanwhile, tinyBuild adds 32 titles to their portfolio with several new genres in the mix. Here are a couple of quotes about the acquisition, as well as the promo video they made for the deal.
"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," said Alex Nichiporchik, co-founder and CEO of tinyBuild. "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!"
"The joining of tinyBuild couldn't have come at a better time. By infusing capital and investing in more titles, I am very excited about the opportunities that will open up for Versus Evil as a publisher. If you look back at other publishers, the introduction of new partners and injection of capital has catapulted them to the next level. And I'm excited about what this new phase will bring to Versus Evil," said Steve Escalante, founder and General Manager of Versus Evil.