Vivid Games, a renowned game developer, has announced a significant development in its strategic direction. Gemini Grupė UAB, a Lithuanian investment fund, will acquire over 40% of the company’s shares, becoming a major shareholder.
This strategic investment will inject PLN 5.23 million (approximately USD 1.3 million) into Vivid Games, providing crucial funding for the continued development of Real Boxing 3 and other exciting new projects.
Strategic Rationale Behind the Partnership
Vivid Games CEO, Piotr Gamracy, highlighted several key reasons for choosing Gemini Grupė UAB as their strategic partner:
- Rapid Funding: The fund’s ability to provide immediate financial support enables Vivid Games to accelerate the development of Real Boxing 3.
- Financial Security: The investment ensures long-term financial stability, allowing the company to confidently pursue its ambitious goals.
- Global Brand Building Expertise: Gemini Grupė UAB’s experience in bringing products to European markets will be instrumental in expanding the Real Boxing brand’s reach beyond the digital realm.
Future Plans and Roadmap Updates
Upon completion of the Official processes, Vivid Games will prioritize:
- Refining the product roadmap.
- Expediting the soft launch of Real Boxing 3.
- Exploring opportunities to extend the Real Boxing brand into offline products and services.
The company plans to keep stakeholders informed about the progress and details of these initiatives.
Addressing Alternative Funding Options
Gamracy also addressed the decision not to pursue a public offering under the current market conditions and shareholder structure. He emphasized that the investment from Gemini Grupė UAB presents a more viable and advantageous path forward.
Vivid Games: From Challenges to Opportunities
It’s important to acknowledge that Vivid Games has faced challenges in recent years. In 2023, the company reported facing various difficulties, reflected in their preliminary financial results. However, the strategic investment from Gemini Grupė UAB is anticipated to be a turning point for the company.
Throughout 2024, Vivid Games has concentrated on intensive development work and analyzing the results of technical tests for their projects. The company has also been actively pursuing business partnerships, as demonstrated by their agreement with BoomBit S.A. for the production of Easy Boxing earlier this year.
