MyGames, the writer and developer previously owned by Russian company VK, has restructured in an effort to exit the Russian market.
The corporate, which was bought by VK to Aleksander Chachava, managing associate of LETA Capital, for $642 million in September 2022 mentioned will probably be ceasing all operations within the area.
“Because of the restructuring, the a part of the enterprise producing income in Russia can be spun off into a brand new unbiased entity with no affiliation to MyGames, and MyGames will stop all operations in Russia,” reads a press launch despatched to Recreation Developer.
“MyGames will focus solely on worldwide enterprise improvement, in addition to bettering infrastructure for its distributed crew.”
The corporate mentioned the licenses for all Russia-related merchandise can be absolutely transferred to Astrum Leisure, which is described by MyGames as an “unbiased Russian firm.”
As soon as these licenses have been transferred, MyGames claims it can “now not earn income from these sport titles on the Russian market.”
This is the place issues get muddled, although. Particulars on Astrum are scarce, but it surely looks as if the enterprise is a holding firm that operates in Jap Europe the place it develops, publishes, and operates a variety of video video games.
Based mostly on what we have gleaned in regards to the firm, evidently MyGames CEO and co-founder, Vladimir Nikolsky, at present works as a basic director at Astrum––having beforehand served as CEO of the enterprise till 2010 (according to Nikolsky’s own Linkedin page).
Given there seems to be important hyperlinks between each firms, we have requested MyGames to make clear the construction of the deal and supply extra specifics on the character of Nikolsky’s place at Astrum.
Trying forward, MyGames defined it can now focus solely on worldwide enterprise improvement and bettering infrastructure for its distributed crew, with over 90 % of the corporate’s workforce at present working remotely.
“Along with its headquarters in Amsterdam, workplace in Cyprus, and consultant places of work in Korea, Spain, China, and Finland, MyGames has additionally begun opening co-working areas within the groups’ key areas of presence, together with Turkey and Armenia. In 2023, the corporate intends to open a number of extra co-working areas in EMEA,” continues the press launch.
“MyGames will proceed to develop cellular, PC, and console video games and publish in key markets, together with the USA, Europe, Asia, and can develop its presence in creating markets, together with MENA, Latam, Indonesia and India.”
Recreation Developer will replace this text with extra particulars after we hear again from MyGames.
Replace: MyGames has clarified that Astrum Leisure was named after the primary main sport holding firm in Russia, Astrum On-line Entertiment, however has no connection to the defunct enterprise—which ceased to exist in 2008 following a buyout from Mail.ru.
“The brand new firm, Astrum Leisure, will function absolutely independently from MyGames, and has no connection to the defunct Astrum On-line Leisure. MyGames and Astrum Leisure are two legally unbiased firms,” mentioned an organization spokesperson.
MyGames additionally elaborated on which licenses can be transferred to Astrum, explaining that Warface, Allods On-line, Excellent World, ArcheAge, and different Russian-related titles can be operated by the nascent firm shifting ahead.
As for why MyGames is leaving the Russian market, it defined that Russia has contributed a “smaller a part of general revenues” over the previous a number of years and that it now needs to pursue world development. MyGames made no point out of Russia’s invasion of Ukraine.