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Video game publisher MY.GAMES has been sold to Leta Capital managing partner Alexander Chachava in a deal valued at $642 million.
The Amsterdam-based company — which has more than 150 games in its portfolio for PC, consoles, and mobile devices — was previously owned by Russian tech giant VK Company.
- Chachava secured the deal for MY.GAMES after a “multi-stage selection procedure.”
- He has acquired all assets of the publisher, including its studios and game products.
- In 2021, MY.GAMES generated $44.4 billion in revenue — 44% of VK’s total revenue.
VK will still maintain a position in the $197 billion global gaming market despite selling MY.GAMES. The company plans to shift its focus toward developing its gaming service, VK Play.
Launched earlier this year, VK Play is now Russia’s largest video game platform.
One of Many
Chachava’s deal adds to a growing number of gaming-related acquisitions.
In January, Microsoft agreed to acquire Activision Blizzard in a deal worth $68.7 billion, making the Washington-based tech giant the world’s third-largest gaming company by revenue.
The same month, Sony agreed to acquire video game developer Bungie — the original creator of “Halo” and current developer of “Destiny” — in a deal valued at $3.6 billion.
In May, the Public Investment Fund — Saudi Arabia’s sovereign wealth fund — acquired a 5% stake in Nintendo for $3 billion, making it the company’s fifth-largest shareholder.
