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MyGames, the writer and developer beforehand owned by Russian firm VK, has restructured in an effort to exit the Russian market.
The corporate, which was bought by VK to Aleksander Chachava, managing associate of LETA Capital, for $642 million in September 2022 stated it is going to be ceasing all operations within the area.
“On account of the restructuring, the a part of the enterprise producing income in Russia will probably be spun off into a brand new impartial entity with no affiliation to MyGames, and MyGames will stop all operations in Russia,” reads a press launch despatched to Recreation Developer.
“MyGames will focus solely on worldwide enterprise improvement, in addition to enhancing infrastructure for its distributed group.”
The corporate stated the licenses for all Russia-related merchandise will probably be absolutely transferred to Astrum Leisure, which is described by MyGames as an “impartial Russian firm.”
As soon as these licenses have been transferred, MyGames claims it would “not earn income from these recreation titles on the Russian market.”
Here is the place issues get muddled, although. Particulars on Astrum are scarce, however it looks like the enterprise is a holding firm that operates in Japanese Europe the place it develops, publishes, and operates a variety of video video games.
Based mostly on what we have gleaned concerning the firm, plainly MyGames CEO and co-founder, Vladimir Nikolsky, at the moment works as a normal director at Astrum––having beforehand served as CEO of the enterprise till 2010 (in response to Nikolsky’s personal Linkedin web page).
Given there seems to be vital hyperlinks between each firms, we have requested MyGames to make clear the construction of the deal and supply extra specifics on the character of Nikolsky’s place at Astrum.
Wanting forward, MyGames defined it would now focus solely on worldwide enterprise improvement and enhancing infrastructure for its distributed group, with over 90 p.c of the corporate’s workforce at the moment working remotely.
“Along with its headquarters in Amsterdam, workplace in Cyprus, and consultant places of work in Korea, Spain, China, and Finland, MyGames has additionally begun opening co-working areas within the groups’ key areas of presence, together with Turkey and Armenia. In 2023, the corporate intends to open a number of extra co-working areas in EMEA,” continues the press launch.
“MyGames will proceed to develop cell, PC, and console video games and publish in key markets, together with the US, Europe, Asia, and can increase its presence in growing markets, together with MENA, Latam, Indonesia and India.”
Recreation Developer will replace this text with extra particulars after we hear again from MyGames.
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