- Business
- Devolver Digital, Inc. (DEVO.L) is an independent video game publisher based in Austin, Texas, specializing in indie and premium digital titles for PC, console, and mobile platforms across Europe, North America, the Asia Pacific, Latin America, the Middle East, and North Africa; the company develops and publishes a diverse portfolio exceeding 120 games encompassing action, adventure, arcade, brawler, casual, co-op, comedy, dungeon crawler, fighting, first-person shooter, horror, multiplayer, musical, narrative, pixel art, platformer, puzzle, RPG, racing, retro, rogue-like, science fiction, simulator, sports, strategy, thriller, turn-based, and VR genres, including standout titles such as Hotline Miami, Serious Sam series, Cult of the Lamb, Death's Door, Enter the Gungeon, Fall Guys (prior publishing rights), Shadow Warrior, Loop Hero, Astroneer, The Talos Principle, Skate Story, Ragnorium, Boomerang X, Disc Room, and Olija, while also offering merchandise via its MERCH store featuring apparel, artwork, books, collectibles, pin badges, plush toys, and soundtracks. Founded in 2009 by executives from Gathering of Developers and Gamecock Media Group including Harry Miller, Rick Stults, Mike Wilson, Nigel Lowrie, and Graeme Struthers, Devolver Digital went public on the London Stock Exchange's AIM market in November 2021 with ticker DEVO, achieving an initial valuation of £694.6 million and attracting minority stakes from Sony Interactive Entertainment (around 5%), NetEase, and Kwalee (3.58% in 2024); it maintains subsidiaries like wholly-owned studios Croteam (acquired 2020), Nerial, Firefly Studios, Dodge Roll, Doinksoft (2023), and System Era Softworks (acquired 2023 with treasury share transfer finalized December 2024), majority-owned Good Shepherd Entertainment (full acquisition 2021), and Devolver Digital Films for film distribution, alongside close collaboration with Special Reserve Games for limited physical releases. Recent developments include launching Big Fan Games publishing branch in October 2024 to support licensed IP titles from partners like The Walt Disney Company, HBO, and Dark Horse Comics, taking over Good Shepherd's John Wick Hex and Hellboy: Web of Wyrd; strategic priorities emphasize sequels, paid DLC expansions (e.g., for Cult of the Lamb and Astroneer), definitive editions, reduced third-party investment budgets with DLC focus, and right-sizing three subsidiaries by streamlining operations and cutting team sizes approximately 50%; Harry Miller reassumed CEO role in February 2024 following Douglas Morin's departure, with Graeme Struthers as COO and Daniel Widdicombe as CFO.