Mi-Clos Studio and Little Red Dog acquired by Supernova Capital

Out There developer Mi-Clos Studio and Rogue State maker Little Red Dog Games have been fully-acquired by private equity firm Supernova Capital.

Supernova explained it has also made an additional multi-million dollar investment in both studios to facilitate significant growth.

The London-based company noted that both studios have existing deals in place with publisher Modern Wolf, which is part owned by Supernova and served as the "genesis" for the deal.

Commenting on the move, Supernova CEO Paul Wedgwood said the company had been impressed with the quality of both studios' game projects and "highly capable" dev teams.

Mi-Clos CEO Michael Peiffert described the acquisition as an "emotional moment," but said it will empower the team by allowing them to continue supporting existing franchises and build new ones.

Little Red Dog chief exec Ryan Hewer echoed those remarks, and said the studio will now be able to take on bigger and more ambitious projects.