Embracer, through its wholly owned subsidiary DECA Games, has entered into an agreement to acquire Vancouver gaming studio IUGO Mobile Entertainment for an undisclosed amount.
The acquisition is one of one of twelve the Embracer Group announced today including Vancouver’s A Thinking Ape which was acquired for USD $105 million.
IUGO is a mobile Free-to-Play game developer with longstanding experience from the gaming industry and a team of 86 people in Vancouver.
IUGO is the co-creator and developer of the mobile title The Walking Dead: Road to Survival that was released in 2015. The popular game has more than 45 million installs globally and was awarded as one of the ‘Best Game of 2016’ on Google Play.
IUGO has also collaborated with global publishing partners on mobile game titles Middle-Earth: Shadows of War and Knights & Dragons, the later now in DECA’s IP portfolio since 2019.
“I’m extremely happy and excited to welcome Hong Yee and the entire IUGO team to the Embracer family. Their 17 year track record of developing top grossing titles is truly impressive and their strong relationships with IP holders and publishers will be a major asset to the new operating unit” says Ken Go, Founder and CEO, DECA Games.
The IUGO studio currently has an original IP in production with expected release during 2021, and additionally plans new WFH project together with external publishers in 2021 as well.
IUGO strengthens Embracer Group’s presence in the vibrant Canadian developer scene and provides a platform for expansion in the Vancouver region going forward.
“This is an exhilarating time for mobile games and we are thrilled to join the Embracer Group. We have strong alignment in core values and share common strategies in long term thinking and planning. IUGO is devoted to creating great mobile game experiences and this collaboration will propel us to play an even bigger role in the industry” says Hong-Yee Wong, Founder & President IUGO Mobile Entertainment.