The light is shining on Spin Master’s plans for growth within digital gaming.
The global children’s entertainment company inked a deal to acquire Swedish digital game studio Nørdlight. Initially, Spin Master made a minority investment in Nørdlight in August last year through Spin Master Ventures, an initiative designed to accelerate the company’s growth by investing in early-stage start-ups. The deal marks the first of Spin Master Ventures’ minority investments transitioning into an acquisition.
“The pace of innovation within the children’s entertainment space is rapidly changing, and this acquisition is strategically aligned with our aspiration to grow our Digital Games creative center to 20% of Spin Master’s total revenue,” says Spin Master Global President and CEO Max Rangel. “Leveraging our expanding capabilities and roster of valuable intellectual property, we are well positioned to build engaging, evergreen digital games properties as gaming continues to permeate entertainment time for children.”
The Nørdlight team offers more than 50 years of experience within the mobile games industry, including some of the largest grossing mobile digital games. Recently, the team has been evolving the Rubik’s brand and introducing it to the digital space with a casual mobile puzzle game.
“For us, the indie feeling in studio construction is crucial, which is why we have chosen to do this with Spin Master who shares so many of our values and really sees the possibility of building a modern studio with employees’ creativity in focus,” says Nørdlight CEO Olle Bäck. “In addition, the access to IPs we can now work with is incredible and that together we make a digital version of one of the world’s best-selling puzzle is, in short, a dream come true.”
