The studio plans to invest the funding into third-party publishing and the potential acquisition of other studios.
Image credit: nDreams, Fracked
In March 2022, nDreams, a well-known VR developer and publisher recognized for titles like Fracked, Phantom: Covert Ops, and Far Cry VR: Dive Into Insanity, received a $35 million investment from, at that time, newly established Aonic Group. Back then, the studio stated that this substantial funding would go towards the creation of "more ambitious titles" and the expansion of their talented team.
Today, Aonic Group has completed the acquisition of nDreams for approximately $110 million. nDreams' Co-founders, Patrick and Tamsin O'Luanaigh, will continue to serve as CEO and CPO, respectively, alongside the existing executive team. The funding secured through the acquisition will be used by the studio for future investments, including third-party publishing and potential acquisitions of other studios.
"After 18 months of working together, we're confident we've found the right partner in Aonic. This is the right moment to welcome their support to strengthen our position even further, and seize this critical moment for VR and MR," said Patrick O'Luanaigh.
Aonic Group's CEO Paul Schempp highlighted NDreams' exceptional track record in bringing notable VR titles to the market. He stated that the acquisition was a "natural fit", allowing Aonic to provide its studios with a top-tier team specializing in the VR/MR gaming space
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