American publisher Devolver Digital has gone public on the London Stock Exchange at a valuation of $939.8 million.
Based in Austin, Texas, Devolver has published over 90 titles to-date including Fall Guys, Loop Hero, Death’s Door, Gris, Minit, and Inscryption.
Following a spate of recent acquisitions, Devolver now owns a number of studios and is busy developing its slate of first-party franchises and complementary publishing brand.
Devolver’s directors claim going public will grant the company access to capital on an ongoing basis, allowing it to deliver an “organic growth strategy” while enhancing its reputation as an “ethical publisher.”
“An IPO is the right choice for us to ensure our continued growth and support even more wonderful games,” said Devolver CEO, Douglas Morin. “Most importantly it will allow us to retain our culture. 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 organic growth and talent.”
In a separate blog post, Devolver emphasized that its employees are still the majority owners in the company and again suggested the move will open new doors.
“Devolver Digital will be able to continue to invest into all the games we’re working on now, partner on new ones that we’ve previously not been able to consider, and add more of the fine people we love working with into our cadre of consummate video game professionals,” it added.
It also noted that all of its studios, including recent acquisitions Croteam, Dodge Roll, Nerial, and FireFly Studios, will retain full creative autonomy following the IPO.