Nexters evolves into gaming and entertainment holding company, GDEV

Cyprus-based international game development company Nexters Inc. has changed its name to GDEV Inc. to reflect its evolution as a holding company focused on the growth of its diversified portfolio of studios and franchises.

Nexters Global, as a studio, will remain a 100% owned subsidiary of the GDEV holding, an announcement on the change noted.

Andrey Fadeev, CEO of GDEV also commented, saying, "We are excited to announce a significant evolution in our company's strategic direction. As part of this initiative, we have designated GDEV as a central hub, responsible for consolidating and nurturing the growth of our studios and successful franchises. Concurrently, Nexters and our other studios will concentrate their efforts on the intricate art of game development.".

“By implementing this approach, our goal is to optimise efficiency and cultivate a culture of transparency and cooperation within our organisation,” he went on to explain.

According to the company’s announcement, GDEV is a gaming and entertainment powerhouse, focused on growing and enhancing its portfolio of studios. With a diverse range of subsidiaries, including Nexters, Cubic Games, Dragon Machines, and more, GDEV strives to create games that inspire and engage millions of players for many years. Its franchises, such as Hero Wars, Island Questaway, Pixel Gun 3D, Throne Rush and others have accumulated hundreds of millions of installs worldwide.

Consistent with the name change, meanwhile, GDEV will focus on strategic partnerships, acquisitions and other group-wide initiatives. The holding company will spearhead the expansion of its studios and cross-platform franchises, while each individual studio will concentrate on the development of its own products, the announcement continued.

The holding company will comprise Nexters, Cubic Games and Dragon Machines, along with partially controlled assets (Royal Ark, RJ Games, Game Gears and others) as well as any future acquisitions. The current management team of GDEV will remain unchanged, with each studio operating under its own leadership.

The name change will not affect any rights of shareholders, and existing share and warrant certificates will be retained and remain valid. The company’s shares and warrants will continue to trade on Nasdaq as “GDEV” and “GDEVW” under the same CUSIPS, G6529J 100 and G6529J 118, respectively, and ISIN numbers, VGG6529J1003 and VGG6529J1185, respectively, the announcement underlined.

Please visit https://gdev.inc for more information.