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Devolver Digital goes public with $950m valuation

Devolver Digital goes public with $950m valuation

Indie publisher Devolver Digital has gone public on the London Stock Exchange.

The firm has conducted its initial public offering with a £694.6 million ($950 million) valuation on the Alternative Investment Market (AIM). The company raised £190 million ($261 million) thanks to its IPO. This is apparently the largest ever US-based company to join the London Stock Exchange by market cap, and the second largest on the AIM.

"An IPO is the right choice for us to ensure our continued growth and support even more wonderful games," Devolver CEO Douglas Morin said.

"Most importantly, it will allow us to retain our culture. Being a public company gives liquidity to our amazing team, all of whom are shareholders. It also gives us access to capital markets to continue investing in our growth strategy and talent."

GamesIndustry.biz also reports that PlayStation maker Sony Interactive Entertainment has made a five per cent investment in the indie publisher.

Devolver was founded back in 2009. We caught up with co-founder Graeme Struthers in 2019 to discuss the firm's first ten years.

Word that the company planned to go public broke in May of this year.


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 PCGamesInsider.biz. 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 GamesIndustry.biz, VGC, Games London, The Observer/Guardian and Esquire UK.

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