Devolver Digital became a publicly-traded company this morning (November 4) as it entered the London Stock Exchange valued at $950 million.
According to GIBiz, this value makes the video game publisher the largest American company to ever be traded on the London Stock Exchange. The company is most famous for publishing indie games such as; Hotline Miami, The Talos Principle, The Messenger and Death’s Door.
When the exchange opened at 8 am, Devolver Digital made $261million on its admission. Deciding to trade publically in order to provide funds for its expansion plans. It has made $50 million for the cause with a further $211 million going into management and existing investors.
Following its release of a number of commercially successful indie titles, Sony Interactive Entertainment reportedly intends to purchase 5% of the publisher for around a further $47.5million. This could see more Devolver Digital titles being brought to Sony platforms in the future.
Devolver Digital has its main headquarters in Austin, Texas, but holds another one out of London where it was placed on the market. It hires over 200 staff across a number of studios who will benefit from the floatation.
“Being a public company gives liquidity to our amazing team, all of whom are shareholders. It also gives us access to capital markets to continue investing in our growth strategy and talent,” said CEO Douglas Morin.
In other news, we have the rundown on a number of upcoming big releases. Firstly, Pokémon Brilliant Diamond and Shining Pearl will be released later this month. Elden Ring, the latest FromSoftware title, has been pushed back to February but rewarded us with a new gameplay trailer today (November 4). Finally, after it was first announced in 2018, we now have a lot more information to share on the upcoming Halo Infinite.