Embracer Group, the parent company of THQ Nordic, has acquired The Netherlands-based Vertigo Games for €50 million through wholly-owned subsidiary Koch Media, the company announced.
Vertigo Games develops, publishes, and distributes games exclusively for virtual reality platforms, including the currently available zombie first-person shooter Arizona Sunshine and the upcoming action first-person shooter After the Fall.
“Since we decided to focus exclusively on virtual reality gaming in 2013, we have experienced rapid growth with the release of global hit Arizona Sunshine, and we have our most ambitious project to date, After the Fall,” said Vertigo Games CEO Richard Stitselaar in a press release. “The virtual reality gaming market seems to be on the edge of really taking off with the coming together of better, more accessible hardware and more and more high-quality content being released and announced. We believe that now is the time to accelerate and in Koch Media and Embracer we have found the perfect partner to do so together with.”
Koch Media CEO Dr. Klemens Kundratitz added, “We have been monitoring the virtual reality market over the past years very closely. We feel that now is the right time to extend our groups activities into this fast-growing market. I am sure that we are only at the beginning of the technological development of virtual reality and what it offers players around the globe. We are delighted that with the acquisition of Vertigo Games, leading virtual reality experts are joining our group. Together, we will push the boundaries of virtual reality gaming even further, combining our strong global development and publishing network with their specialized virtual reality games expertise.”
Vertigo Games will continue to operate independently under the Deep Silver umbrella, as well as work across the overall Embracer Group to find wider collaboration within virtual reality. The senior management team is committed to stay on for the long-term.
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