Grom Social Enterprises to acquire Arctic7
Grom Social Enterprises has announced the acquisition of studio Arctic7.
The terms of the acquisition weren't disclosed but the announcement clarified that Arctic7 will operate as a division within Grom.
The studio will continue following its current strategy, both acting as a co-development firm and developing its own IP, with the two companies saying they'll reveal more about future opportunities coming from the acquisition in the "coming weeks and months."
Grom Social Enterprises is an entertainment and tech company that also runs its own social network targeting children, Grom Social.
Arctic7 CEO Igor Efremov commented: "Our vision for Arctic7 is to become a leader in the gaming and film & TV space, offering full game development, co-development, transmedia and virtual production capabilities and ensuring we continue to develop a world class team together with strong relationships across the industry. Teaming up with Grom allows us to more vigorously pursue a roll-up strategy approach to potentially expand our business even further."
Arctic7 was founded in early 2022 by Efremov, Mark Rizzo and Alan Van Slyke. The company acquired Star Fort Games and Narwhal Studios in March 2023, and announced a Barcelona office soon after.
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