Aonic Acquires VR Game Developer ‘nDreams’ for $110 Million
In a press release, it has been announced that Aonic has acquired the VR game developer nDreams for $110 million.
nDreams are the developers behind VR games including Little Cities, Synapse, Ghostbusters: Rise of the Ghost Lord, and PowerWash Simulator VR. Aonic made an initial investment of $35 million in the company in March 2022.
In the press release, nDreams said, “It’s no secret that the support of Aonic was invaluable in us achieving many of these things, so we’re delighted to announce the completion of an agreement for Aonic to fully acquire nDreams, for a total enterprise value close to $110 million.”
It continued, “Our joint successes to date made it an easy decision for us to deepen our partnership with Aonic, a great and supportive bunch of people who respect what we’ve built and share our vision for taking it forward.”
“What won’t change is our commitment to VR and MR gaming. In fact, we see this as a critical moment to seize as we strengthen our position in XR even further. We’ll also be continuing our journey under familiar leadership, with co-founders Patrick and Tamsin O’Luanaigh remaining in their positions alongside the rest of the company’s executive team and board.”
“We set up nDreams in 2006, pivoted to focus exclusively on VR games in 2013, and we’re proud of everything we’ve achieved as an independent company,” reflects Patrick O’Luanaigh, CEO of nDreams. “This is the right moment to welcome the support of Aonic to strengthen our position even further, and seize this critical moment for VR and MR.
“Crucially, after 18 months of working alongside Aonic and benefiting from their investment, we’re confident we’ve found the right partner. This deal wouldn’t have happened otherwise. nDreams and Aonic share a vision and we’re excited to keep pushing the boundaries of VR, with more announcements coming soon!”
In December 2022, nDreams announced it had acquired the Brighton-based virtual reality studio, Near Light for an undisclosed sum.