US technology holding company Ener1 Group has signed a deal to acquire Nival Interactive LLC., the Moscow-based studio producing Heroes of Might and Magic V and the largest developer in Russia.
Nival Interactive currently employs 140 artists, designers and programmers. They will join Ener1's US-based team to work on next-gen console and wireless games.
Sergey Orlovskiy, Nival's CEO and founder, has been appointed president of the new company, which will be based in Ft. Lauderdale, Florida and operate under the name of Nival Inc.
"Ener1 Group has been looking for the right opportunity to expand its video game operations," said Ener1 presidend Mike Zoi.
"We believe that Nival Interactive is the ideal platform and that Sergey Orlovskiy is the ideal person to expand the new company and the Nival Interactive brand as we continue to grow through future acquisitions.
"Sergey is an exceptional leader who has built his company from the ground up and it is now selling millions of video games throughout Europe and the rest of the world," he added.
"He has assembled one of the most talented creative teams and his ability to land distribution and development deals with leading publishers such as Ubisoft shows his strong business acumen."
Nival Interactive was founded in 1996 and has since developed a wide range of PC titles including the Blitzkrieg and Silent Storm series. The company recently confirmed it is currently working on Heroes of Might and Magic V, to be published by Ubisoft.
"This partnership provides both our companies with the optimal solution for accomplishing our mutual goals," said Sergey Orlovskiy.
"Ener1 Group's resources and international presence will accelerate Nival's strategy for growth, developing exceptional and creative content for the interactive entertainment industry, exploring new distribution opportunities and attracting top talent in the global marketplace."