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November 21, 2023

Aonic Group, Acquires VR Trailblazer nDreams in $110 Million Deal

From the lands of Sweden, has clinched the acquisition of the UK-based nDreams, in a blockbuster $110 million deal

In a strategic move that marks the marriage of visionary gaming entities, the Aonic Group, a prominent Swedish video gaming family, has sealed the acquisition of UK-based virtual reality game developer and publisher nDreams in a noteworthy $110 million deal. This move follows Aonic's initial investment of $35 million in nDreams back in 2022, leading to Mercia Asset Management relinquishing its minority stake in nDreams.

With a commitment to advancing virtual reality (VR) and mixed reality (MR) gaming, nDreams, under its co-founders Patrick and Tamsin O’Luanaigh, is poised to maintain its leadership position in the extended reality (XR) realm. The acquisition positions nDreams to leverage Aonic's support in future endeavors, spanning third-party publishing and potential studio acquisitions. The seamless integration into the Aonic family is expected to catalyze nDreams' growth in sync with the evolving landscapes of VR, augmented reality (AR), and MR, empowering the creation of ambitious and groundbreaking titles.

Founded in 2006 by the dynamic duo Patrick and Tamsin O’Luanaigh, nDreams has been a trailblazer in VR game development since 2014. Boasting an impressive portfolio, the studio has brought forth acclaimed titles such as "Fracked" and the immersive "Far Cry: Dive Into Insanity." Noteworthy VR hits include exclusive PS VR2 experience "Synapse," the award-winning "Phantom: Covert Ops," "Far Cry VR," and "Fracked." With promising ventures on the horizon, including the iconic "Ghostbusters" VR experience and a lineup of next-generation titles, nDreams continues to redefine the boundaries of immersive gaming.

In its latest chapter, nDreams introduces two new studios – nDreams Studio Orbital, focusing on live service games, and nDreams Studio Elevation, dedicated to AAA games and new intellectual properties (IPs). The studio also spearheads a third-party publishing initiative, extending support, funding, and publication for indie VR games. With a seasoned in-house publishing team boasting decades of combined VR experience from industry giants such as SEGA, Ubisoft, PlayStation, Capcom, and Nintendo, nDreams is poised for a dynamic future.

Aonic's CEO, Paul Schempp, expresses enthusiasm about the strategic acquisition, emphasizing Aonic's commitment to championing mid-sized studios. He affirms the acquisition as a testament to Aonic's dedication to creating an environment where teams can thrive and innovate, ushering in a new era of exceptional gaming experiences.

Neil Hodgson Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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