VK announces the sale of MY.GAMES
VK Company Limited (LSE, MOEX: VKCO), hereinafter referred to as "the Company" and together with its subsidiaries “VK” or "the Group"), announces the sale of MY.GAMES to Aleksander Chachava, Managing partner of LETA Capital.
VK announces the completion of a multi-stage selection procedure of a buyer of its gaming division with the sale of 100% of MY.GAMES to Aleksander Chachava, Managing partner of LETA Capital. The deal includes all the assets of MY.GAMES such as its studios and game products.
The deal value amounted to 642 million dollars. Vladimir Nikolskiy, the co-founder of MY.GAMES, will leave VK to continue to develop MY.GAMES.
VK will continue to develop its own gaming services under the VK Play brand. VK Play is the largest Russian game platform, launched in April 2022. It brings together all the popular game-related entertainment into one place and includes a catalog of games, cloud gaming, VK Play Live streaming platform, tournament platform and news media. Vasily Maguryan will be appointed the head of VK Play. He has been in charge of VK's gaming business for more than eight years.
For further information please contact:
VK PR team
VK IR team
VK is one of the largest technology companies in Russia. Its products help millions of people with their day-to-day needs online. More than 90% of the Russian internet audience use VK services, which enable people to keep in touch, play video games, master new skills, listen to music, watch and create video content, buy and offer goods and services and fulfill wide range of other needs. The company provides a number of solutions for digitizing business processes, from online promotion and predictive analytics to corporate social networks, cloud services and enterprise automation.
The venture capital firm LETA Capital invests in the technologies for tomorrow using a data-driven approach to select the best investment opportunities. LETA Capital's priority areas are projects in the field of AI/ML technologies, process automation, Big Data analytics, gaming and VR/AR. More than 30 companies are in funds portfolio managed by LETA Capital. The ideal investment target for LETA are businesses that operate in global markets, engage in innovative IT developments and change traditional approaches in industries with the help of new technologies.
