Focus Home Interactive has raised an additional €70.35 million with the goal of using the funds to finance future acquisitions and further invest in development.
Newsbrief: Focus Home Interactive has raised an additional €70.35 million (~$85.6 million) with the goal of financing future acquisitions and further investing in development.
This time around, the additional cash comes from a share offering that saw 1.05 million shares (representing 19.7 percent of the company's shares overall) priced at €67 per share.
Raising cash for future acquisitions via a share offering is the latest in a growing list of ways Focus Home Interactive has looked to bolster its development reach in recent years. Just last month, the company acquired Space Hulk: Deathwing dev Streum On Studio for an undisclosed sum, and two months prior it set up a new Deck13 subsidiary in Montreal to support an unannounced project.
This time around, a press release specifically notes the €70.35 million gives Focus Home Interactive "additional means to finance its medium and long-term external growth activities, in particular via the acquisition of studios that will enrich the Group's pool of talent" and "continue to upgrade the range of games produced by the Group and invest more in development budgets."
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