Griffin Gaming Partners, a video game-focused venture fund, has acquired indie publisher Playdigious from Swedish company Fragbite in a €10.5 million ($12.2 million) deal.
Playdigious specializes in mobile ports and brought titles like Chants of Sennaar and Loop Hero to smartphones. It also operates a publishing label called Playdigious Originals, which currently has four games in its portfolio.
Notably, the deal will see Fragbite retain 90 percent of net revenue generated from Playdigious Originals’ current PC catalog. Griffin Gaming Partners paid cash to acquire all shares in Playdigious alongside all of the company’s assets and all game publishing rights.
Fragbite CEO Stefan Tengvall said the acquisition and subsequent sale of Playdigious is indicative of a “successful investment.”
“Playdigious was acquired in 2021 and has been a successful investment. We now got the opportunity to divest the subsidiary in a favourable deal that allows us to secure a strong capital position, evolve Fragbite Group further and support new strategic initiatives such as the Bitcoin Treasury initiative,” said Tengvall.
“Fragbite Group’s close ties to Playdigious, with founders Xavier Liard and Romain Tisserand and CEO Abrial Da Costa, are strong and our collaboration continues. We have always been very proud of the Playdigious team, and I want to thank all team members for being such a positive part of the group these years. I believe Playdigious will continue to grow together with the highly knowledgeable team at Griffin Gaming Partners.”
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Fragbite Group now consists of Fragbite, its esports tournament and livestreaming platform; Config, an esports and gaming content house; and mobile developer Fun Rock & Prey Studios, which made MMA Manager 2: Ultimate Fight.
Fragbite noted that Playdigious was its largest subsidiary and delivered 77 percent of total revenue in 2024. Following the sale, Fragbite expects to become self-sustaining with 6 to 12 months. Although it will make less moving forward, it will also incur fewer costs.
The company will further outline the financial impact of the divestment in its upcoming third quarter earnings report.