French publisher Focus Home Interactive has acquired a majority stake in retro game developer Dotemu for €38.5 million ($45.5 million).
The deal will see Focus home acquire 77.5 percent of the share capital of Dotemu, which has helped reinvigorate vintage franchises by working on titles like Metal Slug Tactics, Streets of Rage 4, and Windjammers 2.
Focus Home will pay an additional €15 million ($17.7 million) as part of the deal if Dotemu managed to meet certain performance targets.
Dotemu CEO and shareholder Cyrille Imbert will continue to steer the company following the acquisition, and will also be appointed managing director of Focus Home's soon-to-be-created indie publishing division.
Christophe Nobileau, CEO of Focus Home, said the purchase will allow the company to accelerate its growth, diversify its expertise, and open up new revenue streams.
"As the video game industry continues to evolve, a significant portion of the market is turning to retro gaming. Today, nostalgic gamers and hardcore fans alike are snatching up re-releases of old home consoles, as well as adaptations of old games and mythical titles that benefit from the comfort of todays technologies," reads a press release.
"Dotemu has become an expert in this field and has already developed and re-released legendary franchises such as Final Fantasy, Another World, Double Dragon, and most recently Streets of Rage 4."
Moving forward, Focus Home intends to help Dotemu develop "more ambitious" projects, including remakes and sequels of titles from the 3D era.