Aonic Acquires UK-Based VR Game Developer nDreams for $110M

Swedish video game family, Aonic Group, completes the $110 million acquisition of UK-based virtual reality game developer, nDreams. The deal follows Aonic's initial $35 million investment in 2022 and marks the withdrawal of Mercia Asset Management's minority stake in nDreams.

Post-acquisition, nDreams will maintain its dedication to VR and MR entertainment, focusing on strengthening its position in XR. Co-founders Patrick and Tamsin O'Luanaigh, along with the executive team, will stay in their roles. The funding will support future investments, including potential studio acquisitions and third-party publishing, aligning with Aonic's collaboration to expand nDreams' capabilities in VR, AR, and MR.

nDreams, established in 2006, has been a VR game development leader, introducing titles like Fracked and Far Cry: Dive Into Insanity. With recent additions, nDreams Studio Elevation and nDreams Studio Orbital, the company aims at live service games, AAA titles, and a third-party publishing initiative. The acquisition signals Aonic's commitment to supporting mid-sized studios and fostering an environment for exceptional video game development.

CEO of nDreams, Patrick O'Luanaigh, expresses confidence in Aonic as an ideal collaborator, sharing a common goal to expand the frontiers of virtual reality. Aonic CEO Paul Schempp notes the natural fit between the two entities and highlights Aonic's dedication to supporting studios in the VR/MR gaming space, emphasizing the acquisition as evidence of this commitment.