Perfect Worlds First Quarter 2010 Unaudited Financial Results just popped up on my Google alerts, with an unexpected surprise hidden deep within! If you didnt know, Perfect World is Runic Games publisher, and main source of funding for the Torchlight MMO. The unexpected part of the report is below:
With a further explanation below:As a part of our growth strategy, we continuously monitor the market for acquisition opportunities that will generate synergies with our core business. I am excited to announce some recent developments on this front. We recently made a strategic investment to acquire a majority stake in Runic Games, Inc. (Runic Games), a top-tier game development studio based in the U.S., to further strengthen our R&D capabilities. By collaborating more closely with Runics professional team, we seek to combine their creativity and expertise in game development with our deep understanding of the online game market to create global titles.
8.4 million dollars to own the majority of Runic Games? What does this mean for their future? Hopefully well get some clarification in the near future!Investment in Runic Games, Inc.
In May 2010, the Company acquired a majority stake in Runic Games, a specialized developer of PC-based entertainment software in the U.S., at the consideration of approximately US$8.4 million. Runic Games has a team of experienced developers, including leads on Diablo, Diablo II, Diablo II: Lord of Destruction, Fate, Hellgate: London and Mythos. Runic Games has developed and released a single-player action-RPG Torchlight, and is currently developing the MMORPG version of Torchlight. This strategic investment will allow the Company to further enhance its strong R&D capabilities, and leverage Runic Games creative and professional development team to create global titles through enhanced control and a closer collaboration.