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Focus Home Interactive raises €70m in share offering

Publisher says it will use the money for new studio acquisitions and to increase development spend

Focus Home Interactive today announced that it has raised €70.3 million ($85.7 million) through a share offering representing 19.7% of the company.

The publisher said it will use the money for "medium and long-term external growth activities" -- acquiring new studios, specifically -- as well as increasing the range of games it makes and the amount it spends on development.

Focus Home Interactive has been aggressive about expanding its business over the past year.

It acquired The Surge developer Deck13 Interactive in 2020, and followed that up this year by creating a new Deck13 subsidiary studio in Montreal and acquiring Space Hulk: Deathwing developer Streum On Studio last month.

At the time of the Streum On acquisition, Focus Home Interactive said it had formed an acquisitions team "in active discussions with a number of studios."