logo-loader
viewAnimoca Brands Corporation Ltd

Animoca Brands to acquire developer-publisher of Power Rangers: Legacy Wars game

The nWay acquisition is in line with Animoca’s brands-based strategy, as nWay has a track record of developing successful games featuring top-tier intellectual property (Power Rangers).

Animoca Brands Corporation Ltd - Animoca Brands to acquire developer-publisher of Power Rangers: Legacy Wars game
The acquisition will significantly bolster Animoca’s core games business capabilities

Animoca Brands Corporation Ltd (ASX:AB1) has entered into an agreement to acquire 100% of nWay Inc for an upfront consideration of US$7.69 million.

nWay is a San Francisco based developer and publisher of competitive multiplayer games across mobile, consoles, and PC. The company has developed and published three games:

  • Power Rangers: Battle for the Grid, the popular tag-team fighting game with cross-play functionality on Nintendo Switch, Xbox One and PC;
  • Power Rangers: Legacy Wars, an award-winning mobile fighting game on iOS and Android with over 50 million downloads; and
  • ChronoBlade: nWay’s original mobile action role-playing game.

It has been agreed that US$1.94 million of the US$7.69 million consideration is payable in cash and US$5.75 million is payable in fully paid ordinary shares of Animoca.

The acquisition is subject to shareholder approval, execution of a formal agreement, satisfactory completion of due diligence, and the obtaining of any necessary regulatory approvals.

Importantly, the acquisition of nWay will add to Animoca a strong, highly experienced team of game developers and executives.

The nWay team possesses considerable knowledge and experience in developing and publishing competitive, cross-play, real-time multiplayer games across all major gaming platforms.

Shift to multiplayer gaming

The acquisition will significantly bolster Animoca’s core games business capabilities, as real-time multiplayer gaming is becoming a dominant form of gaming on all platforms and the market for core gaming is moving from platform-specific gaming to cross-play gaming.

The nWay acquisition is in line with Animoca’s brands-based strategy, as nWay has a track record of developing successful games featuring top-tier intellectual property (Power Rangers).

Animoca co-founder and chairman Yat Siu said: “The acquisition of nWay is a historic day for Animoca Brands.

“Not only are we acquiring a company with experienced management, strong revenues, and successful branded games, but we are also immensely excited about the nWayPlay platform, which - among other advantages - will allow a new generation of developers to create multiplayer games without the many years of experience normally required for such tasks.”

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Animoca Brands Corporation Ltd named herein, including the promotion by the Company of Animoca Brands Corporation Ltd in any Content on the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Animoca Brands' Yat Siu talks significant expansion of partnership with Atari

Animoca Brands Corporation Ltd's co-founder and chairman Yat Siu speaks to Proactive about an expansion to its existing license deal with classic gaming company Atari. The move gives Animoca access to an additional 15 Atari games through to 2035 as well as the right to develop and publish...

20 hours, 5 minutes ago

3 min read