Outsourcing giant Virtuos nets $150 million to accelerate growth

The Singapore-based company will use the cash to expand its existing studios and make acquisitions.

Development and 3D art company Virtuos has secured $150 million to accelerate its growth plans and support a global "buy-and-build strategy."

The cash comes from Baring Private Equity Asia (BPEA), which has become the largest external shareholder in Virtuos as a result of the deal.

The investment arrives just under a year after Virtuos, which has worked with major companies including Activision Blizzard, Bandai Namco, and Take-Two Interactive, acquired support studio CounterPunch and opened a new concept studio in Montreal.

According to Virtuos CEO, Gilles Langourieux, the funds will allow the company to remain at the "forefront of AAA content development" by allowing it to deliver high value-added services across a range of disciplines.

In practical terms, that means enabling Virtuos to expand through strategic partnerships and acquisitions, while also supporting the company as it bolsters its existing studios around the world.

Virtuos will continue to operate under the leadership of Langourieux following the deal, with the chief exec and other members of the management team still holding a combined 70 percent stake in the company.

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