nDreams has been at the forefront of VR games development for several years now, and as it continues to grow, it’s been announced that the studio has been acquired by Aonic. The company invested $25 million in nDreams earlier this year to acquire a minority stake, and has now completed a full acquisition for the price of $110 million.
Aonic has said that nDreams, which currently employs about 250 people, will continue under its current leadership. Co-founders Patrick and Tamsin O’Luanaigh will continue in their roles as chief executive officer and chief people officer respectively, while the rest of the company’s executive team will also stay on.
“We set up nDreams in 2006, pivoted to focus exclusively on VR games in 2013, and we’re proud of everything we’ve achieved as an independent company,” said nDreams CEO Patrick O’Luanaigh. “After 18 months of working together, we’re confident we’ve found the right partner in Aonic. This is the right moment to welcome their support to strengthen our position even further, and seize this critical moment for VR and MR.”
“nDreams has done an unparalleled job bringing some of the biggest VR titles to market, and it was a natural fit for us to welcome them to the Aonic family and provide our studios with the best team when it comes to the VR / MR gaming space,” said Aonic CEO Paul Schempp. “This acquisition is yet another example of Aonic’s commitment to championing mid-sized studios and creating an environment where teams can create fantastic games.”
nDreams has previously worked on acclaimed VR titles like Phantom: Covert Ops, Synapse, and Ghostbusters: Rise of the Ghost Lord, and also published PowerWash Simulator VR.
Aonic and nDreams have stated that all four of the latter’s development studios are at work on future projects, while the studio is also continuing to work with external partners for publishing opportunities, with announcements planned for 2024.
