Indie game publisher Devolver Digital wants to go private
Indie game publisher Devolver Digital has announced plans to return to private ownership after struggling as a publicly-traded company. The publisher argues that its current share price does not reflect the company’s true market value.
Devolver Digital went public in 2021 with a valuation of approximately £694.6m ($950m USD). However, the company’s share price has since declined dramatically by 96.27%, reducing the company’s valuation to approximately £34.64m.
The publisher cited “difficult sector conditions” and the ongoing challenge of delivering growth in line with market expectations as contributing factors to the decision. The gaming industry has faced significant turmoil since Devolver Digital’s public debut, with broader challenges affecting the sector as a whole.
By returning to private ownership, the publisher hopes to escape the pressure of meeting market expectations while maintaining control over its strategic direction. The move reflects broader trends in the gaming industry, where some companies have found the demands of public markets increasingly difficult to navigate.