Aonic, a fast-growing video gaming and technology group, has entered into a definitive agreement with Metric Capital Partners and Active Ownership to receive a total €152 million investment.

€100 million comes from Metric Capital Partners, a leading pan-European investment firm, to further the company’s growth ambitions. Besides, Aonic’s major shareholder, Active Ownership, contributes additional capital to the company equity by converting its €52m shareholder loan.

Since its formation in 2021, the company has grown to 12 companies operating globally in game development, publishing, and related services. These include Exmox, one of the fastest growing mobile user acquisition platforms, OtherSide Entertainment, the studio headed up by industry legends including Warren Spector, and Megabit Publishing. OtherSide and Megabit recently combined to announce Thick As Thieves at The Game Awards.

Aonic’s other teams

Other teams in the multiplatform games group diversified group include leaders in mobile game development (Red Games Co., TutoTOONS), mobile tech (Exmox, Gravite), and VR (nDreams).

Despite a turbulent period for the games industry, also impacting Aonic, the group’s overall revenues have increased 73% over the past year. This investment will fund further M&A and support for ongoing developments across the group. More will be revealed in 2025.

Aonic and its major shareholder, Active Ownership, were advised by UBS and DLA Piper.

Metric was advised by Dechert, 8Advisory, and Grant Thornton.