Starbreeze plotting IPO for StarVR
Games firm confirms discussions with partner Acer for future of location-based virtual reality company
Swedish games developer Starbreeze has hinted that its virtual reality spin-off firm could float in the near future.
The company confirmed it is currently in discussions with Acer, the Taiwanese PC manufacturer that Starbreeze partnered with for this VR venture, about an Initial Public Offering - although no further details have been released.
As of October 2017, Starbreeze owns one third of StarVR, while Acer owns two thirds. Essentially, Starbreeze owns and controls the IP rights and creates the content, Acer manufactures the device itself, and development and design is handled jointly by both.
Although no final decision has been made, Starbreeze CEO Bo Andersson-Klint announced his firm is "in talks with Acer on the possibility of an IPO for StarVR."
In a statement, he says both firms agree "this is an excellent way to propel the business" into become a leading player in the VR space, particularly in location-based offerings.
He also confirmed the research and development phase for the StarVR headset is complete and the potential for the product is expected to be showcase with the VR center the firm is currently building in Dubai.
If successful, an IPO for StarVR could help Starbreeze offset the odd position its core games business is currently in. Back in November, Starbreeze Studios posted a $4.1m pre-tax loss following the disappointing performance of Raid: World War II.
The company was even compelled to sell $30m in shares in order to continue funding its business as it builds up to the release of a new Walking Dead game.