Griffin Gaming Partners has acquired Playdigious’ mobile publishing business from Swedish games group Fragbite for €10.5m, or $12.2m.
The VC firm paid in cash for the premium mobile game publisher, which handles ports of popular PC and console titles including Dead Cells, TMNT: Shredder’s Revenge, Loop Hero, Streets of Rage 4 and Little Nightmares.
Under the terms of the deal Playdigious is now owned by Griffin, but Fragbite will retain 90% of the revenue generated from Playdigious’ PC games under the Playdigious Originals label, including Fretless, Crown Gambit, Linkito and The Almost Gone.
Playdigious was acquired by Fragbite in May 2021 for €3m (~$3.5m) in cash and €2m in shares in the company. Fragbite CEO Stefan Tengvall described the deal as “a successful investment”, and said that after divesting its Playdigious arm Fragbite is in a stronger capital position to support new business like its ‘Bitcoin Treasury’ initiative, work-for-hire arm and esports ventures.
Playdigious was Fragbite’s largest subsidiary, representing 77 percent of company revenue in 2024. Fragbite also said that the book value of Playdigious in its balance sheet at the time of the divestment was SEK 97.1m, or $10.3m.
Fragbite CEO Stefan Tengvall added: “We have always been very proud of the Playdigious team, and I want to thank all team members for being such a positive part of the group these years. I believe Playdigious will continue to grow together with the highly knowledgeable team at Griffin Gaming Partners and wish them the best of luck in future endeavours.”
