tinyBuild Inc, the video game developer and publisher, has announced the acquisition of US-based publisher Versus Evil and its Brazilian games service subsidiary Red Cerberus.
The maximum consideration is up to US$31.3mln, with an initial US$12.5mln in cash before settling deferred payments over three calendar years of newly issued tinyBuild shares up to US$18.8mln, subject to financial targets being met.
Bringing 32 published games, including The Banner Saga and First Class Trouble, Versus Evil will take tinyBuild’s portfolio to over 70.
???? Deceive or be deceived in a homicidal AI uprising where the cocktails last longer than friendships ????
Help us celebrate the release of First Class Trouble into 1.0 ???? Join in on the festivities aboard the Alithea & don't forget to watch your back... ???????????? pic.twitter.com/3jVaMe0pxy
— First Class Trouble ???????? (@1stClassTrouble) November 2, 2021
The new additions generated a combined US$12mln in revenues and US$0.2mln EBITDA loss in 2020, which was a year of major investment into Red Ceberus.
The pair will still operate independently, tinyBuild said, expecting them to contribute a slight increase to earnings this year and roughly a 10% accretion at the EBITDA level in 2022.
“We are actively looking at a number of other potential acquihires and larger scale acquisitions to enhance our strategic and operational position,” said tinyBuild chief executive Alex Nichiporchik.