Animoca Brands acquires Power Rangers developer nWay

Studio behind mobile fighting game Legacy Wars purchased for $7.69 million

Mobile games firm Animoca Brands has begun the process of acquiring San Francisco-based developer nWay.

The deal is still subject to shareholder approval but will see Animoca acquire the studio for $7.69 million -- $1.94 million in cash, and $5.75 million in shares.

Animoca Brands has also entered into unsecured 12-month loan agreements for AUS $2.5 million to help fund the acquisition.

nWay is best known for mobile fighter Power Rangers: Legacy Wars, which has more than 50 million downloads, and the console follow-up Power Rangers: Battle For The Grid. It currently holds the global licence for the long-running TV brand.

The company also developed its own multiplayer technology to allow crossplay. For the first eight months of 2019, it generated revenues of $6.98 million.

If shareholders approve, the deal will require execution of a formal agreement, due diligence and the usual regulatory approvals.

The acquisition will be the latest in a long string by Animoca Brands, which includes digital collectables marketplace Quidd, tech firm Gamma Innovations, and blockchain gaming platform The Sandbox.

One year ago, Atari acquired a stake in Animoca Brands as part of a blockchain game deal.

More stories

Atari acquires stake in Animoca Brands as part of blockchain game deal

Partnership will see Animoca Brands develop blockchain version of RollerCoaster Tycoon

By Haydn Taylor

Animoca Brands acquires Pixowl for $4.9 million

Mobile publisher adds multiple world-building and licensed titles to portfolio, including The Sandbox and Peanuts: Snoopy's Town Tale

By Rebekah Valentine

Latest comments

Sign in to contribute

Need an account? Register now.