Devolver Acquires System Era in a Deal Valued at Up to $40 Million

In a significant move, Devolver has acquired System Era for a potential total of $40 million. The acquisition includes an initial payment of $22 million, consisting of $20 million in cash upon deal closure and $2 million in shares to be issued and paid one year later. Additionally, there is a deferred consideration of $10 million and a potential earn-out of up to $8 million, both of which are payable in cash and shares. According to European law firm Fieldfisher, which represents Devolver, this acquisition is a strategic opportunity for Devolver to expand its portfolio beyond premium indie titles by leveraging System Era's expertise in expandable game development, live operations technology, and existing intellectual property. System Era, founded in 2014 and known for its sandbox multiplayer game Astroneer, released on PC in 2016, has confirmed the acquisition. The studio expressed its enthusiasm for the partnership, stating that it allows them to focus on their passions while finding a new home among like-minded individuals. This move follows Devolver's pattern of acquiring studios, including Dodge Roll, Nerial, Firefly Studios in 2021, and Doinksoft earlier this year, as part of its internal consolidation strategy.