Friday, December 16, 2016

Swedish Game Maker Starbreeze Acquires Indian Dhruva Interactive

Via The Swedish Wire:

Starbreeze, a Stockholm based game maker, has acquired Indian art production company Dhruva Interactive for $8.5 million.

Starbreeze Studios is one of northern Europe’s largest independent studios with many block buster games under our belt.

Founded in 1997, Dhruva is India’s leading game developer with over 320 employees, providing art production services to the global games industry. Dhruva has three state-of-the-art studios, two in the southern Indian city of Bangalore, and a studio in the northern Indian city of Dehradun, located at the foothills of the Himalayan mountains.

Dhruva will continue to operate under its own brand.

Through the acquisition, Starbreeze secures its art production needs for projects such as OVERKILL’s The Walking Dead and Nozon’s VFX production, improves the quality of its in-house production projects and lowers its operating costs. It will also enable Starbreeze to provide full end to end services to its participating publishing partners and to add significant value to its VR ecosystem.

“Bold plans need the right partners and Content is King. We have worked with Dhruva Interactive for several years and know them well. I am confident that bringing Dhruva into the Starbreeze family will strengthen Starbreeze as a global entertainment company”, said Starbreeze CEO Bo Andersson-Klint. “Dhruva will continue to operate independently under its own brand and run business as usual with existing partners, while greatly contributing to Starbreeze pipeline and adding pronounced value to our publishing services and VR ecosystem”.

“Starbreeze has been a great client, and over time we realized that Starbreeze is exactly the kind of company that we’d like to evolve with. They have strong games, an awesome vision for VR, similar culture and a skilled management team”, said Dhruva CEO and Founder Rajesh Rao. “Our talent art teams contribute to the some of the biggest and most visually stunning games in the industry today. As part of the Starbreeze family, we will be able to add cutting edge VR content to our repertoire as well. It’s an extremely exciting time”.

Deal is expected to close at end of Q1 2017, subject to approval processes for foreign investors in India.

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