Indie game publisher Devolver Digital is officially going public at the end of this week. The publisher behind hit games such as Fall Guys, Hotline Miami, and Carrion will become a publically traded company, with an estimated valuation of approximately 700 million GPB (about 955 million dollars). Devolver Digital will appear on London’s junior AIM market.
The almost one billion dollar valuation will make Devolver Digital one of the market’s top 50 most valuable stocks. Notably, Sony is also reportedly eyeing a 5% stake in the company. Prior to the public offering, Devolver Digital plans to raise 36.5 million pounds, as well as sell over 154.3 million pounds of its existing stock. The company will offer a combined 190 million pounds worth of stock on the market this Thursday.
Devolver Digital started in 2008 as a publishing house focused entirely on PC platforms such as Steam. The publisher’s first title was Croteam’s Serious Sam HD released in 2009. Devolver Digital later acquired the studio back in 2020 and compared the acquisition to marriage after “dating for so long.” The publisher’s true breakout hit, however, was 2012’s Hotline Miami. From 2012 onwards, the publisher has expanded into publishing games for consoles.
In recent years, Devolver Digital has published some pretty significant titles. The most obvious is Fall Guys: Ultimate Knockout, which broke the Guinness world record for the most downloaded game when it was released for free on PlayStation Plus. Fall Guys performed so well that Epic Games eventually purchased the game’s developer Mediatonic. Others include 2019’s Carrion, as well as Enter the Gungeon, and The Talos Principle.
It’s unclear how the public offering will affect Devolver Digital’s publishing process. Devolver Digital has published indie games that are “unique,” to say the least. It even offers deals where the indie studios are able to keep the rights to their own games.
[Source: Morningstar UK]