Aonic acquires VR firm NDreams for $110m

Date Type Companies involved Size
November 20th, 2023 acquisition Aonic
Aonic acquires VR firm NDreams for $110m

Swedish games firm Aonic has bought VR specialist NDreams.

The company has splashed out $110 million to by the UK studio, which has a staff of over 250 people and has worked on titles such as Synapse and Ghostbusters: Rise of the Ghost Lord. Aonic previously invested $35 million in NDreams back in 2022.

“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,” NDreams CEO Patrick O’Luanaigh (pictured) said.

“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.”

Aonic CEO Paul Schempp added: “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. 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.”

UK developer Milky Tea has also attracted investment from Aonic, which acquired a majority stake in the studio in April 2023.

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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.