Devolver Digital is now publicly traded on the London Stock Exchange under the ticker: DEVO
The deal, which took it public, raised $261 million in proceeds for investors and the company, with an initial public valuation of $950 million.
Devolver will retain $50 million, while $211 million goes to early-round individual shareholders, the management team, and large early-round corporate investors like NetEase.
2021 has been a banner year in the industry. Through the first three quarters of the year, investors have injected over $70 billion into the game industry through M&A, public offerings, and direct investment.
Some of the biggest names to have gone public this year include Roblox, Playtika, Nexters, Double Down Interactive, Skillz and Playstudios. Roblox is currently trading on the NYSE at a $45 billion market capitalization.
But even smaller publishers, developers and startups like Devolver have had an amazing year. And investors in these companies are rejoicing as the industry shows no signs of slowing down.
Some startups, like Animoca Brands, have already reached multi-billion-dollar valuations in record time.
But the next round of record-breaking startup valuations may come from game-tech developers with patents.
Companies whose patents could immediately be exploited via licensing agreements with large game publishers could be enormous winners, especially companies whose tech can seamlessly slide into existing games with little or no additional development.
But, beyond these game-tech startups – those with patent portfolios – it’s the early-round investors that may be the biggest beneficiaries of them all.
So, hold on tight, 2022 could be a wild one!
Read more about Devolver Digital, HERE
Or learn more about startups with patents in game-tech, HERE
Source: https://venturebeat.com/2021/11/04/devolver-digital-raises-261m-at-950m-valuation-on-lse/