Starbreeze Sells One of Its Subsidiaries for Over $7 Million
The struggling Swedish games company Starbreeze has sold Dhruva, an art production studio based in India, to Rockstar for $7.9 million, according to a Monday announcement. Starbreeze had reportedly acquired Dhruva for $8.5 million in 2016.
The Swedish company also sold its Dhruva share to Rockstar, which amounted to 91.82% of Dhruva, according to another announcement.
According to the announcement, Dhruva will work alongside Rockstar India.
“Rockstar Games are the undisputed leaders of innovation and creativity in modern game development,” said Dhruva CEO and founder Rajesh Rao. “Dhruva Interactive was founded with the aim of creating a world-class game development community in India, and so bringing the Dhruva team under the Rockstar Games label is further proof that we have succeeded in creating a talented team that can contribute to the best games in the world while helping to create a thriving local game developer community in India.”
This latest move by Starbreeze is likely an effort being made by the struggling company to obtain the money it needs in order to stay in business. According to a recent financial report, the company “currently lacks sufficient secured funds to continue operating for the coming 12 months“.
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Sources: Starbreeze, Dhruva