Mobile games developer Huuuge says it is looking at five takeover targets | WSAU News/Talk 550 AM · 99.9 FM

By Anna Banacka

GDANSK (Reuters) – U.S.-registered cell video games developer Huuuge Inc. is wanting carefully at 5 acquisition targets because it seeks to speed up its development, its chief govt stated on Tuesday, after the corporate reported a $83 million web loss for 2020.

Warsaw-listed shares of Huuuge, which has a robust presence in Poland and in February carried out the nation’s largest gaming sector preliminary public providing (IPO), had been greater than 5% decrease by 1230 GMT, in response to the web loss which was pushed by surging monetary prices.

“We search for a purchase that brings us extra scale and success. We have now 5 construct and purchase alternatives in lively pursuit,” Huuuge’s Chief Government Anton Gauffin informed a press convention.

“There are loads of firms we’re speaking with together with some firms from Poland however our strategy may be very a lot world,” he added.

Boasting firms reminiscent of Cyberpunk developer CD Projekt, Poland has developed into a number one online game exporter because of low labour prices, a younger, educated workforce and a thriving gaming custom rooted within the Communist period.

Huuuge raised round $100 million web from its IPO, which it stated it could largely spend on takeovers.

Gauffin reiterated that Huuuge has no plans to pay a dividend.

“By no means say by no means nevertheless it’s not a grand lively subject,” Gauffin stated.

(Reporting by Anna Banacka and Adrianna Ebert; Modifying by Agnieszka Barteczko, Kirsten Donovan)