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Aonic Group Acquires nDreams in a Strategic Move to Bolster VR Gaming

By Xueyang
Nov. 20, 2023 updated 06:09

The Aonic Group, based in Sweden, has successfully finalized its acquisition of nDreams, a prominent virtual reality game developer and publisher located in Farnborough, in a significant transaction valued at approximately £88.3 million ($110 million). Prior to this acquisition, Aonic Group had invested £28 million ($35 million) in March 2022, obtaining a minority stake in nDreams.

nDreams, known for its robust 250-person team, has been at the forefront of VR gaming, launching acclaimed titles like the 2023 Game Awards-nominated 'Synapse', 'Ghostbusters: Rise of the Ghost Lord', 'PowerWash Simulator VR', and 'Little Cities'. The studio's expansion included the purchase of VR/AR specialists Near Light in December 2022.

Joining the diverse Aonic Group, nDreams will be among an impressive portfolio of global gaming firms including OtherSide Entertainment led by Warren Spector, Milky Tea, Exmox, and TutoTOONS.

Despite the change in ownership, nDreams' executive leadership team will retain their roles and continue to concentrate on their core business objectives. They anticipate that Aonic's investment will enhance their capabilities in third-party publishing and potentially lead to further strategic acquisitions.

Patrick O’Luanaigh, CEO of nDreams, expressed pride in the company's journey from its inception in 2006 to a VR-focused enterprise since 2013. He believes Aonic is the ideal partner to bolster their position during this pivotal phase for VR and MR technologies.

Echoing this sentiment, Paul Schempp, CEO of Aonic, praised nDreams for its exceptional role in delivering top VR titles to the market. The integration of nDreams into the Aonic family underscores the group's dedication to nurturing mid-sized studios and fostering a creative haven for game development.

Source: X