Ten Square Games S.A. increases its stake in Gamesture from 25% to 37%. Funding worth USD 2.7 million will allow to increase the intensity of activities related to acquiring users for the studio’s flagship titles, as well as to prepare the launch of a new title on the market. By deciding to additionally finance Gamesture, Ten Square Games wants to support the Cracow based studio even more in the development of new games and business potential, which it noticed in March 2022 investing in the company for the first time.
The share purchase in Gamesture in the first quarter of 2022 assumed financial support for the company in introducing new games to the market and the possibility of gradually increasing capital involvement over a longer period, creating added value for Ten Square Games shareholders. Observing the growth potential of Gamesture, the Management Board of Ten Square Games decided to initiate negotiations with the other co-owners of the company to increase its involvement in Gamesture faster. As a result of these talks, Ten Square Games became the owner of 37% stake in the Cracow based studio. This investment is in line with the Ten Square Games’ strategy in the area of M&A, which aims to ensure long-term diversification of the company’s product portfolio.
– Months of working together have confirmed our belief in the great potential of Gamesture and we are ready to tighten our cooperation faster than it results from the investment agreement. Since November 2021, the company’s revenue has more than tripled, and games from the Gamesture portfolio are showing promising parameters. This is a good time to increase expenditures on the development of the company and its recapitalization. Additional funds from the transaction will be used to scale marketing activities, especially User Acquisition projects. – says Maciej Zużalek, CEO at Ten Square Games S.A.
The Cracow based studio is working on a new title, Hero Legacy, inspired by iconic brands such as Heroes of Might & Magic III or Baldur’s Gate. The premiere of the game is to take place in the first half of 2023, and a website is already available where you can see e.g. graphics and an introduction to the game world. Players who remember the aforementioned inspirations will be extremely pleased that the narrator in the Polish language version of Hero Legacy is actor Piotr Fronczewski, known to players, among others, from as the author of the narration in the aforementioned Baldur’s Gate. Last year, Gamesture launched the Gang, and in December 2021 Slash&Roll was released.
– Three quarters of cooperation proved that having a partner with a similar approach to the development of the company by our side, we can focus on individual products and joint discussion on a long-term strategy. Increased involvement of Ten Square Games allows us to focus on the development of our existing games, work on a new title and allows us to increase our marketing efforts. The transaction is an expression of trust and faith on the part of Ten Square Games in the business potential of our studio. – emphasizes Tomasz Drożdżyński, CEO of Gamesture sp. z o.o.
Before investing in Gamesture, in July 2021 Ten Square Games purchased 100% of shares in the Italian studio Rortos – one of the largest players in the promising segment of flight simulators. The latest Wings of Heroes game developed by Rortos premiered in October 2022 and achieved very good indicators, becoming the third largest game in the Ten Square Games portfolio in terms of daily revenues. The game gained over 2 million users in just two months from the day of its global release.
In the near future, the Ten Square Group intends to continue the development of its activities in the existing areas, and the Management Board of Ten Square Games is analyzing the possibilities of further acquisitions and investments.
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The Ten Square Games Group is a producer of mobile games in the free-to-play model. It consists of nearly 500 people working in studios in Wrocław, Warsaw and Bucharest. Ten Square Games SA has acquired the Rortos studio in Verona, as well as a minority stake in the Krakow Gamesture studio. The Group’s portfolio includes, among others: Fishing Clash, one of the world’s most popular 3D fishing simulators, Hunting Clash, a realistic hunting simulator, as well as Airline Commander, one of the most recognizable flight simulators, and Wings of Heroes, which premiered globally in October 2022.
Gamesture is a producer of mobile games. The studio consists of nearly 70 people working in two locations – Cracow and Poznan. Founded in 2014, the company is the publisher of three titles: Questland, set in a fantasy world and enabling a turn-based combat system, and Slash & Roll and The Gang, based on the PvP (player vs. player) team fight model. Currently, the company is developing new projects in the RPG segment.
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