Starbreeze acquires Indian art production company Dhruva Interactive for 8.5 MUSD

Starbreeze AB, the Sweden-based creator, publisher and distributor of games, has agreed to acquire 90.5% of the shares in the Indian art production company Dhruva Interactive

The deal of $8.5M  consists of $7.0M (approximately 68.5 MSEK) in cash and $1.5M in newly issued Starbreeze B-shares.

Dhruva Interactive is a highly reputed and best-of-breed art production house, with whom Starbreeze has a long-standing relationship.

Founded in 1997, Dhruva is India's leading game developer with over 320 employees, providing art production services to the global games industry. Dhruva has three state-of-the-art studios, two in the southern Indian city of Bangalore, and a studio in the northern Indian city of Dehradun, located at the foothills of the Himalayan mountains.

Dhruva will continue to operate under its own brand and continue servicing its clients in the global games industry.

Through the acquisition, Starbreeze secures its art production needs for projects such as OVERKILL’s The Walking Dead and Nozon’s VFX production, improves the quality of its in-house production projects and lowers its operating costs. It will also enable Starbreeze to provide full end to end services to its  participating publishing partners and to add significant value to its VR ecosystem.