Aonic Expands Portfolio with $110 Million Acquisition of NDreams

In a significant move, Aonic has acquired renowned VR game developer NDreams in a deal valued at approximately $110 million. Following the acquisition, NDreams' founding duo, Patrick and Tamsin O'Luanaigh, will continue to lead the company as CEO and CPO, respectively, alongside the existing executive team. The Farnborough-based studio plans to utilize the funding to pursue new opportunities, including third-party publishing ventures and potential studio acquisitions. As a result of this transaction, Mercia Asset Management, which previously held a minority stake in NDreams, has exited the company with a return of £30.2 million on its investment. This development comes after Aonic initially acquired a minority stake in NDreams through a $35 million investment earlier in the year. Patrick O'Luanaigh expressed his enthusiasm for the partnership, stating, "Having established NDreams in 2006 and shifted our focus to VR games in 2013, we're proud of our accomplishments as an independent entity. After collaborating with Aonic for 18 months, we're confident that we've found the ideal partner to further enhance our position and capitalize on the current VR and MR landscape." Aonic CEO Paul Schempp also commented, "NDreams has demonstrated exceptional expertise in bringing high-profile VR titles to market, making them a natural fit for the Aonic family. This acquisition underscores our commitment to supporting mid-sized studios and fostering an environment that enables teams to create outstanding games."