Video game

London video game maker sold to Danish company as founder considers new moves

Another London games company has been sold, joining a list of local tech companies that have been ripped off in recent years.

Content of the article

Another London games company has been sold, joining a list of local tech companies that have been ripped off in recent years.

Advertising

Content of the article

Tiny Titans Studio, the small Dundas Street company that makes arcade games for mobile devices, has been taken over by a Danish company, said Jeff Evans, founder and CEO of Tiny Titans.

Trophy Games Development has purchased 100% of Tiny Titans.

“We are very excited. That’s what we want to do, ”Evans said. “We were moving from mobile games to console games and we wanted to rename the company in a new direction. We wanted to get rid of the past.

“We didn’t want to work on mobile games. We wanted a new approach.

Evans wants to focus on making console games and has one in the works called Ember Knights, which will be released in 2022. He has hired all 12 Tiny Titans employees for his new company, which does not yet have a name.

Evans said he was unsure whether Trophy would integrate Tiny Titans into its Danish operations.

Advertising

Content of the article

The sale has been in the works for about five months and took place when Evans decided to focus on console game development.

“We decided maybe it wasn’t a bad idea to spin it and started digging around and we came across Trophy,” he said.

In recent years, the list of London-owned games companies has shrunk. Big Blue Bubble was sold to Swedish company EG7 in 2020 for $ 16 million. In 2019, Race Roster, a London-based company that creates software for running, was sold to Asics, the Japanese running shoe company. In 2014, Digital Extremes was sold to Multi Dynamic Games Group Inc., a Chinese subsidiary, for $ 73 million. While not a games or sports company, Carproof was sold in 2015 to the Colorado-based company that owns Carfax for $ 650 million.

Advertising

Content of the article

“It’s great to see so many London companies on the radar for international investors, for foreign buyers,” said Kapil Lakhotia, managing director of London Economic Development Corp.

“London is on the radar as a hub for technology and it’s good to see. “

Lakhotia dismissed the idea that loss of local ownership should cause concern, saying it’s not unusual to have consolidation among tech companies. Many of the businesses sold have grown after their purchase, he said.

“It is not uncommon for companies to receive investments, they have more liquidity.

Andrew McClenaghan, a London-based tech entrepreneur, sold his Digital Echidna business to Northern Commerce, also a web development firm in London, and it has created 70 jobs in the past year to now employ more than 200.

Advertising

Content of the article

“This means entrepreneurs in London are able to build businesses that have global reach. This is one of our advantages and we have to brag a little more about it, ”said McClenaghan.

Trophy Games, with 40 employees, is a Denmark-based games studio that develops mobile and PC games that primarily focus on soccer themes, but is looking to expand into other titles, the company based in Copenhagen in a press release.

“Tiny Titan has built a strong portfolio of popular arcade games with positive cash flow that fits perfectly with our growth strategy,” said Soren Gleie, Managing Director of Trophy.

Tiny Titan games have been downloaded from Google Play 796,757 times in the past three months, he said. Tiny Titan’s estimated revenue for 2021 is 2.8 million Danish kroner, the equivalent of C $ 540,000.

“We believe we can improve monetization and use their assets to generate solid income for years to come,” Gleie said.

Tiny Titans was founded in 2013 and released its first game in 2014. It is well known for creating the popular Dash Quest game series.

Trophy Games was founded in 2006.

[email protected]

Twitter.com/NormatLFPress

Advertising

    Advertising

    comments

    Postmedia is committed to maintaining a vibrant but civil discussion forum and encourages all readers to share their views on our articles. Comments may take up to an hour of moderation before appearing on the site. We ask that you keep your comments relevant and respectful. We have enabled email notifications. You will now receive an email if you receive a reply to your comment, if there is an update to a comment thread that you follow, or if a user that you follow comments. Check out our community guidelines for more information and details on how to adjust your email settings.



    Source link