AONIC AB Receives €152M Investment
The Games Group includes nDreams, TutoToons, Red Games, Exmox, Gravite, and more.
Swedish gaming group AONIC has secured €152 million in funding to drive mergers and acquisitions and to bolster ongoing projects across its studios.
European investment firm Metric Capital Partners contributed €100 Million to the funding round, while AONIC’s majority shareholder, Active Ownership, added €52 Million by converting an existing shareholder loan into equity.
Advisory support for the transaction was provided by UBS and DLA Piper for AONIC and Active Ownership, while Metric was advised by Dechert, 8Advisory, and Grant Thornton.
Expanding games portfolio
Since its establishment in 2021, AONIC has acquired a range of companies involved in development, publishing, and gaming services. Its portfolio includes VR developer nDreams, user acquisition platform Exmox, ad monetization tools provider Gravite, and mobile gaming studios Red Games Co and TutoToons. Other notable acquisitions include OtherSide Entertainment, led by Warren Spector, and Megabit Publishing.
The company reported a 73% year-on-year increase in group revenue, highlighting its growth trajectory. Earlier this year, AONIC unveiled its Megabit Publishing division and completed the acquisition of nDreams in November 2023. Last year’s acquisitions included Tiny Roar, OtherSide Entertainment, and Milky Tea.
