Business
Sale of Red Cerberus
Sale of Red Cerberus.
About this update from Tinybuild Inc.
[{"type":"text","content":"\n\n3 April 2025\ntinyBuild, Inc\n(\"tinyBuild\" or the \"Company\")\n \nSale of Red Cerberus\ntinyBuild (AIM:TBLD), a premium video games publisher and developer with global operations, is pleased to announce the disposal of Red Cerberus to a North American consultive software and hardware company focusing on testing.\nThe total consideration is $1.5m in cash payable on completion, subject to standard net working capital adjustments. The disposal will be marginally accretive in 2025 and the proceeds shall be used for general working capital purposes.\nRed Cerberus was founded in 2017 and was acquired by tinyBuild in November 2021 together with Versus Evil. Red Cerberus, based in Sao Paolo Brazil, provides quality assurance, testing and localization to video game studios. Red Cerberus had a book value of $0.8m as 31 December 2024, and it generated $4.3m in revenues and a net loss of $0.1m in the 2024 financial year (unaudited).\nAlex Nichiporchik, Chief Executive Officer of tinyBuild, commented:\n\"The sale of Red Cerberus marks an important milestone in streamlining our portfolio and focusing on what we do best: creating and growing great IP. Red Cerberus has been a valuable partner in our journey, and I'd like to thank the entire team for their dedication.\"\n\"Reallocating resources to our core creative pipeline will help us maximize long-term revenue potential with the release of new game IP. We look forward to launching certain high-potential games in 2025 and remain excited about the future of tinyBuild.\"\nEnquiries:\n\n\n\n\ntinyBuild, Inc\nAlex Nichiporchik - Chief Executive Officer and co-founder\nGiasone (Jaz) Salati - Chief Financial Officer\n \n\n\[email protected]\n \n\n\n\n\nBerenberg (Nominated Adviser and Broker)\nMark Whitmore, Ciaran Walsh, Milo Bonser\n \n\n\n+44 (0)20 3207 7800\n \n\n\n\n\nSEC Newgate (Financial PR)\nRobin Tozer, Harry Handyside, Molly Gretton\n \n\n\[email protected]\n+44 (0)7540 106366\n\n\n\n\nAbout tinyBuild:\nFounded in 2013, tinyBuild (AIM: TBLD) is a global video games publisher and developer, with a catalogue of more than 70 premium titles across different genres. tinyBuild's strategy is to focus on its own intellectual property (IP) to build multi-game and multimedia franchises, in partnership with developers.\ntinyBuild is head...