Resolution Games acquires Zenz VR, reports record growth
Firm sees fifth consecutive year of profitability, staff headcount grew by 55% year-over-year
Virtual and augmented reality outfit Resolution Games has acquired Swedish VR studio Zenz VR for an undisclosed sum.
The acquisition aims to strengthen development of titles currently in the works at Resolution Games, but does not see the studio take ownership of Zenz VR's existing IP.
Resolution Games has also reported a growth in profitability for 2021, its fifth consecutive year of doing so. The studio didn't disclose figures, but GamesIndustry.biz has reached out for comment.
At the end of the 2021, the studio employed 108 staff, a 55% increase on the headcount reported the previous year. As of July 2022, the studio employs 158 workers, and is expected to surpass 200 by the end of the year.
"As an early leader in VR games, we've had the opportunity to learn what works best for immersive play and what doesn't," said Resolution Games founder and CEO Tommy Palm. "This experience puts us in a unique position to apply these learnings as we explore the next generation of technologies, including mixed and augmented reality."
Last year, Resolution Games also acquired another Swedish studio, Zero Index, to bolster its library of titles across VR and AR platforms.
The studio also completed a $25 million Series C funding round last July to raise the quality of its games and expand its catalogue of IP.
Update: Resolution has confirmed that total revenues for 2021 across its B2B and B2C businesses was $111M SEK ($10.5 million)