Mobile studio Animoca Brands has agreed to fully acquire Power Rangers: Legacy Wars developer nWay Inc. for $7.69 million. The deal will see Animoca hand over $1.94 million in cash and $5.75 million in shares, with $1.69 million of that cash consideration going straight into nWay for operating purposes.
For those unfamiliar with the name, nWay is the San Francisco-based developer-publisher behind titles like Chronoblade, Power Rangers: Legacy Wars, and Power Rangers: Battle for the Grid.
The company has a global licensing agreement with Lionsgate and Hasbro to develop and publish Power Rangers titles on PC, mobile, and console platforms, and that deal could be extended if certain revenue benchmarks are met by September 2020. On top of that, the company is also working on a backend live-ops platform called nWayPlay, which will let other developers quickly implement and operate competitive cross-platform multiplayer functionality in their games, along with a marketplace and pricing system for the service.
Commenting on the move, Animoca said nWay will “significantly bolster” it’s core games business capabilities,” immediately expand its game portfolio, and give it some extra mileage when developing future titles.
Original article, Chris Kerr