MY.GAMES Reports a Change of Shareholder
On September 27, VK announced the sale of 100% of its international game developer and publisher MY.GAMES to Alexander Chachava, managing partner of LETA Capital. The deal includes all MY.GAMES assets, including internal studios and game products. The deal is valued at $642 million.
MY.GAMES is a leading European company in the online entertainment field with a wide spectrum of gaming projects with over one billion users. War Robots, Hustle Castle, Rush Royale, Left to Survive, Warface, and many other games were produced by MY.GAMES. The company has dozens of development studios, a strong international team of game specialists, and 13 offices around the world. MY.GAMES not only creates and publishes games for PC, consoles, and mobile devices but also actively helps talented developers through its investment arm MGVC (top 10 game strategic investor globally). The global MY.GAMES and MGVC partner network comprises over 50 studios.
The venture capital firm LETA Capital invests in the technologies of tomorrow using a data-driven approach to select the best investment opportunities. LETA Capital's priority areas are projects in the field of AI/ML technologies, process automation, Big Data analytics, gaming, and VR/AR. More than 30 companies are in the fund's portfolio managed by LETA Capital. The ideal investment target for LETA is businesses that operate in global markets, engage in innovative IT developments, and change traditional approaches in industries with the help of new technologies.