Virtual reality developer, nDreams, has officially been acquired by Aonic for a value of around $110 million. The deal will see nDreams co-founders, Patrick and Tamsin O'Luanaigh, maintaining their roles as CEO and CPO respectively, while the rest of the executive team also is sticking with the game developer.
The acquisition is said to see nDreams using this additional funding to help improve its third-party publishing efforts and to potentially explore the studio acquisition space itself. Likewise, Aonic's investment has seen former minor investor, Mercia Technologies, selling its stake in nDreams.
Speaking about the acquisition, Patrick O'Luanaigh has stated, "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!"
nDreams now spans around 250 employees, and is regarded as the world's biggest VR game developer and publisher.