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Aonic Group Acquires nDreams For $110 Million

Aonic | nDreams acquisition image

nDreams has been acquired by Aonic Group in a deal close to $110 million.

Today's acquisition news follows the $35 million investment from Aonic in March 2022, a Stockholm-based group that set up its gaming division last year. Following 2023's releases for Synapse, Ghostbusters: Rise of the Ghost Lord and PowerWash Simulator VR, nDreams now joins Warren Spector’s OtherSide Entertainment, Milky Tea, Exmox and TutoTOONS within Aonic.

In the announcement, nDreams reaffirmed its commitment to VR and MR gaming and says its "core focus will remain unchanged." The studio also confirmed its co-founders, CEO Patrick O’Luanaigh and Tamsin O’Luanaigh (Chief People Officer) will remain in their positions alongside the rest of the company's executive team.

Founded in 2006, recent years have seen major expansion for the Farnborough-based studio. A second team, nDreams Orbital, opened in July 2021 with a third, nDreams Elevation, following several months later. Last December, nDreams added a fourth team by acquiring Shooty Fruity's developer, Near Light.

As for what's next, nDreams hasn't revealed its upcoming projects yet, though announcements are lined up "for 2024 and beyond." Projects are being worked on across all four studios alongside partnerships with third-party developers. A press release suggested the acquisition will facilitate "future investments in third-party publishing and, potentially, more studio acquisitions."

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