Devolver Digital has announced that they have begun trading on AIM, which is the sub-market of the London Stock Exchange. They went live this morning at 8 AM and raised $261 million, which means that the valuation of the indie publisher is around $950 million. By market capitalization, this means that Devolver Digital is both the largest US-based company admitted to the London Stock Exchange and the second largest company to trade in AIM.
Devolver Digital was founded in 2009 and they’ve been very busy ever since. Recently they’ve published the smash indie hit Inscryption and have picked up developers such as Croteam and Firefly Studios. Other recent successes include Fall Guys, and Serious Sam 4. Back in May, the first information that Devolver was thinking about going public came out, and it looks like they have decided to do so now.
“An IPO is the right choice for us to ensure our continued growth and support even more wonderful games,” CEO Douglas Morin said. “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 our growth strategy and talent.”
Sony Interactive Entertainment has made a 5% investment in the company according to Gamesindustry.biz, along with support from “US institutional investors.” Sounds like it’s been a good day to be working (or owning) Devolver Digital.
Devolver Digital apparently won’t be the last indie publisher to go public either: Dying Light 2 developer Techland is apparently likely to go public as well sooner rather than later. Stay tuned to TechRaptor for more details on everything Techland and Devolver Digital.
What do you think of this news? Have you bought a game from Devolver Digital recently? If it was, was it Inscryption? Let us know in the comments!