The Embracer Group, the company behind well-known names such as THQ Nordic, Koch Media and Saber Interactive, has acquired the VR studio VR for 50 million euros. Vertigo Games purchased (via Koch Media).
Vertigo Games develops, publishes and distributes games intended for virtual reality platforms, including "Arizona Sunshine" and "After the Fall". However, the studio will continue to operate independently and take care of projects in virtual reality.
"Since we decided to focus exclusively on VR games in 2013, we've seen rapid growth with the release of the global hit Arizona Sunshine, and we have our most ambitious project yet, After the Fall. The VR games market seems to be on the verge of really taking off, with better, more accessible hardware and more quality content being released and announced. We believe now is the time to accelerate, and with Koch Media and Embracer we have found the perfect partner to do so," says Richard Stitselaar, CEO of Vertigo Games.
Dr. Klemens Kundratitz, the CEO of Koch Media, adds: "We have been watching the VR market very closely over the last few years. We believe that now is the right time to expand our group's activities into this fast-growing market. I am sure that we are only at the beginning of the technological development of VR and what it offers to gamers around the globe. We are delighted that leading VR experts are joining our group with the acquisition of Vertigo Games. Together, we will push the boundaries of VR gaming even further by combining our strong global development and publishing network with their specialised VR gaming expertise."
Source: Press release
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