Virtuos, a leading game development company, announced it had closed a deal to acquire art production outfit Glass Egg Digital Media.
The financial terms of the deal were not disclosed.
Glass Egg Digital Media, or ‘Glass Egg,’ is based in Ho Chi Minh City, Vietnam, specializing in 2D and 3D art services, including concept designing and 3D vehicles.
Phil Tran and Steve Reid started Glass Egg in 1999, and the firm’s extensive experience in 2D and 3D art has earned it industrywide acclaim. This paved the studio to collaborate on notable AAA games, including Call of Duty: Modern Warfare, Demon Souls, Jurassic World Evolution, Marvel Spider-Man, Need for Speed Heat, and Forza: Horizon 4.
“We’re excited to bring the Glass Egg team on board the Virtuos family,” said Virtuos CEO Gilles Langourieux. “With its strong brand equity, coupled with its sizeable and long-term local operations, Glass Egg demonstrates excellent synergies with Virtuos, and we look forward to harnessing our combined expertise to strengthen our commitment to excellence.”
Glass Egg CEO Tran commented: “We are honored to be a part of an industry stalwart, Virtuos. This means our staff will have the ability to expand skills and take on a wider array of projects, which will benefit our clients as well. With the support and resources of Virtuos, we are energized to meaningfully contribute to the industry in its next phase of growth.”
Glass Egg currently has 400 employees, and after the acquisition is complete, Virtuos will employ a total of 1000 game specialists in Vietnam. It also positions the company aims to reach 1,500 employees in Vietnam and become the country’s largest gaming developer. The company also plans to open another studio in June 2022.
Following the acquisition, Glass Egg will be renamed “Glass Egg – a Virtuos Studio.” The studio will continue to operate independently, with Tran and Reid retaining their roles as CEO and CFO.
The acquisition of Glass Egg is expected to expand Virtuos’s services in art creation and game development. The new studio will not only bring the firm closer to its Asian clients, but it will also provide access to a vast pool of creative talent because of Vietnam’s position as a Southeast Asian gaming development hub.
In January, Virtuos bought Volmi Games, an art development studio in Ukraine.
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