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tinyBuild, Inc. announced on 03 April 2025 the disposal of Red Cerberus to a North American consultive software and hardware company. The total consideration for the disposal is $1.5 million in cash, payable on completion. Red Cerberus had a book value of $0.8 million as of 31 December 2024 and generated $4.3 million in revenues and a net loss of $0.1 million in the 2024 financial year.
| Date | 3 Apr 2025 |
| Time | 07:00:10 |
| Category | Disposals |
| ID | 5054D |
3 April 2025
tinyBuild, Inc
("tinyBuild" or the "Company")
Sale of Red Cerberus
tinyBuild (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.
The 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.
Red 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).
Alex Nichiporchik, Chief Executive Officer of tinyBuild, commented:
"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."
"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."
Enquiries:
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tinyBuild, Inc Alex Nichiporchik - Chief Executive Officer and co-founder Giasone (Jaz) Salati - Chief Financial Officer
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Berenberg (Nominated Adviser and Broker) Mark Whitmore, Ciaran Walsh, Milo Bonser
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+44 (0)20 3207 7800
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SEC Newgate (Financial PR) Robin Tozer, Harry Handyside, Molly Gretton
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+44 (0)7540 106366 |
About tinyBuild:
Founded 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.
tinyBuild is headquartered in the USA with operations stretching across the Americas and Europe. The Group's broad geographical footprint enables the Company to source high-potential IP, access cost-effective development resources, and build a loyal customer base through its innovative grassroots marketing.
tinyBuild was admitted to AIM, a market by the London Stock Exchange, in March 2021.
For further information, visit: www.tinybuildinvestors.com.