Griffin Gaming Partners, a venture capital fund specializing in video games, has acquired indie publisher Playdigious from Swedish company Fragbite for €10.5 million ($12.2 million).
Playdigious specializes in mobile ports and has released games such as SONGS OF SENNAAR And Cyclic hero to smartphones. The company also operates the publishing label Playdigious Originals, which currently has four games in its portfolio.
Notably, as a result of the deal, Fragbite will retain 90 percent of the net revenue generated from Playdigious Originals' current PC catalog. Griffin Gaming Partners paid cash to acquire all shares of Playdigious, as well as all of the company's assets and all game publishing rights.
Fragbite CEO Stefan Tengvall said the acquisition and subsequent sale of Playdigious was an indication of a “successful investment”.
“Playdigious was acquired in 2021 and has been a successful investment. We now have the opportunity to sell the subsidiary in a profitable transaction that allows us to secure a strong capital position, continue to grow the Fragbite Group and support new strategic initiatives such as the Bitcoin Treasury initiative,” Tengvall said.
“Fragbite Group's close ties to Playdigious, with founders Xavier Liard and Romain Tisserand and CEO Abrial Da Costa, are strong and our collaboration continues. We have always been very proud of the Playdigious team and I want to thank everyone on the team for being such a positive part of the group over the years. I believe that Playdigious will continue to grow with the highly professional team at Griffin Gaming Partners.”
Fragbite Group now consists of Fragbite, an esports tournament and live streaming platform; Config, home of esports and gaming content; and mobile app developer Fun Rock & Prey Studios, who created MMA Manager 2: Ultimate Fight.
Fragbite noted that Playdigious was its largest subsidiary and contributed 77 percent of total revenue in 2024. Following the sale, Fragbite expects to be self-sufficient in 6-12 months. While this will require less effort to move forward, it will also incur less costs.
The company will further outline the financial impact of the sale in its upcoming third-quarter earnings report.
