TinyBuild has acquired Streets of Rogue developer DogHelm Studios in a deal worth up to $6.5 million. The fee will be paid in cash and newly issued shares over the next three years, and is subject to certain operational targets being met.
The move will also see the company hire Streets of Rogue creator and DogHelm owner Matt Dabrowski, who'll now be able to oversee development on a sequel in-house.
TinyBuild, which published Streets of Rogue, explained it has been working to elevate its core franchises by focusing on IP ownership. It also noted that Streets of Rogue is currently the highest rated title in its portfolio according to Steam users.
"We are delighted to announce the first deal following our successful listing on AIM earlier this year. As a public company we have an even more powerful platform from which we can deliver on our organic and M&A growth ambitions," said TinyBuild chief exec Alex Nichiporchik.
"Our goal is to expand our position as a leading global developer and publisher, focusing on IP ownership while creating long-term scalable franchises across multiple media formats. We are actively looking at a number of potential acquihires and larger scale acquisitions to enhance the company's strategic and operational position."
As mentioned by Nichiporchik, TinyBuild went public in March 2021 at a valuation of $474 million. It has also acquired three studios since the turn of the year, including Totally Reliable Delivery Service developer We're Five Games.