Devolver Digital acquires System Era Softworks for up to $40M
Devolver Digital joined the consolidation craze with the acquisition of System Era Softworks for up to $40 million.
The initial part of the cash and stock deal is worth $22.0 million, while the rest will come through bonuses.
Established in 2014, System Era is an award-winning, multi-platform video game developer based in Seattle with a team of 50 people.
System Era is the developer behind Astroneer, a highly successful, space-exploration themed, multiplayer sandbox adventure game, of which it owns 100% of the intellectual property.
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Astroneer is an expandable game title released in 2016, with a proven history of player retention and engagement through regular content releases and updates. To-date Astroneer has generated over $87 million of gross revenues and has been played by over 13 million people.
The acquisition represents a strategic opportunity for Devolver to expand outside of its core strength of premium indie titles, leveraging System Era’s knowledge of Expandable Game style development, as well as its live operations technology and existing IP, the companies said.
Devolver will capitalize on System Era’s development expertise in creating quality, community-centered, long-life titles, which it has proven through the success of its debut title Astroneer, a game that in 2022 achieved its highest annual unit sales figures
System Era’s founding team comes from triple-A backgrounds, having held senior positions at Ubisoft and Microsoft, working on franchises such as Halo, Assassin’s Creed and Watch Dogs,
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