VK sells gaming division MY.GAMES for $642 million

VK announced the completion of the procedure for selecting a buyer for the gaming direction, which lasted for several stages. MY.GAMES will be sold to LETA Capital Managing Partner Alexander Chachava, the company’s press service said.

The deal includes all assets of MY.GAMES along with its studios and gaming products. The price is 642 million dollars. At the same time, MY.GAMES co-founder Vladimir Nikolsky will continue to develop MY.GAMES and leave the company.

And VK plans to further develop its own gaming services under the VK Play brand – this is the largest Russian gaming platform, which was launched in April this year. It accumulates a catalog of games, cloud gaming, the VK Play Live streaming platform, a tournament platform, and news media. VK Play will be headed by Vasily Maguryan, who has led the company’s gaming department for over eight years.

Talk about the sale of MY.GAMES did not appear today or even yesterday. It was a conscious and thoughtful decision by VK, which has been discussed since March of this year. And, in my opinion, very successful: both sides of the transaction remain in the black. The new owner of MY.GAMES will be able to continue developing on the international market, and VK will receive new funds to invest in its projects“, industry expert Anton Klyuchkin explained the nuances of the deal.

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