Report: Devolver set for £1bn London IPO

Report: Devolver set for £1bn London IPO

Indie games publisher Devolver Digital is apparently set to float by the end of 2021.

That's according to The Telegraph, which reports that the label is eying up an IPO on the London Stock Exchange with a £1 billion ($1.41 billion) valuation.

That figure has apparently been achieved – in part – due to the huge success of Fall Guys, which Devolver published and released in August 2020. The title's developer, Mediatonic, was bought by Fortnite maker Epic Games in March of this year, but no figure was placed on the deal. 

Devolver is said to have appointed investment banking operation Zeus Capital for this endeavour, which has previously helped work-for-hire specialist Sumo Digital and indie publisher TinyBuild go public on the London Stock Exchange.

Devolver was founded back in 2009. Ten years later, we caught up with co-founder Graeme Struthers to discuss the company's first decade. In October 2020, the company acquired Serious Sam maker Croteam has reached out to Devolver for comment.

PCGamesInsider Contributing Editor

Alex Calvin is a freelance journalist who writes about the business of games. He started out at UK trade paper MCV in 2013 and left as deputy editor over three years later. In June 2017, he joined Steel Media as the editor for new site In October 2019 he left this full-time position at the company but still contributes to the site on a daily basis. He has also written for, VGC, Games London, The Observer/Guardian and Esquire UK.