Virtuos gaming outsourcing developer is getting bigger. He announced the takeover of Kiev-based Volmi Games, which worked on art for Diablo II: Resurrected, The Elder Scrolls: Legends and Metro Exodus. The amount of the transaction was not disclosed.
Art for The Elder Scrolls: Legends
Under the terms of the deal, Volmi Games will now have to be renamed Volmi — A Virtuos Studio.
The studio management will remain the same. As before, it will be headed by Vladimir Loban and Miroslav Baranenko.
Volmi Games is the first company from Eastern Europe to join Virtuos. According to Virtuos, the Ukrainian studio will become a “key point on the path of global expansion” for it and will open access to a large number of local technical specialists. It is assumed that over the next three years, the team of Volmi Games alone will grow from 140 to 500 people.
Volmi Games was founded by veterans of Wargaming Kyiv in 2016. To date, the studio has about 800 projects on its account. She made art for Blizzard Entertainment, CD Projekt RED, Bethesda, 4A Games, Hi Rez Studios, CI Games and other companies.
Virtuos was launched in 2004. Its headquarters are located in Singapore. Unlike Volmi Games, this outsourcing company specializes not only in art, but also directly in game development. In particular, she has worked on games such as Assassin’s Creed Valhalla, Watch Dogs: Legion, Dark Souls: Remastered and Star Wars Jedi: Fallen Order.
Note that Virtuos has become more active in the M&A market in recent years. One of her recent purchases was the animation studio CounterPunch in 2020. Last September Virtuos raised $150 million, which it was going to spend on further acquisitions.