Aonic acquires nDreams in $110m deal

By Tom Kilkelly

22 November 2023

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Screenshot from Synapse, credit: nDreams

Gaming company Aonic has acquired Farnborough-based Virtual Reality gaming developer nDreams in a deal worth over $110 million.

The two companies already have a good relationship, with Aonic investing $35 million in the firm back in March 2022.

nDreams has reported that Aonic's involvement in the company has been central to its success and has leveraged the launch of a number of titles including Little Cities, Synapse, Ghostbusters: Rise of the Ghost Lord and PowerWash Simulator V.

The Farnborough company has also grown in terms of workforce, now employing 250 people and making it officially the biggest VR gaming developer in the world.

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Becoming part of Aonic now means that nDreams has access to collaboration with a number of other companies, including Warren Spector’s OtherSide Entertainment, Milky Tea, Bkom Studios.

Patrick O’Luanaigh, CEO of nDreams, said: “We set up nDreams in 2006, pivoted to focus exclusively on VR games in 2013, and we’re proud of everything we’ve achieved as an independent company.

“This is the right moment to welcome the support of Aonic to strengthen our position even further, and seize this critical moment for VR and MR.

''Crucially, after 18 months of working alongside Aonic and benefiting from their investment, we’re confident we’ve found the right partner. This deal wouldn’t have happened otherwise.

''nDreams and Aonic share a vision and we’re excited to keep pushing the boundaries of VR, with more announcements coming soon!”

By Tom Kilkelly

Tom Kilkelly started working as a freelance journalist for The Business Magazine following his graduation from UCL in 2022.

During his studies Tom became very interested in the works of Irish authors including Samuel Beckett and Flann O'Brien (Brian O'Nolan).

His current role as a freelance business reporter is his first exposure to the world of business journalism. Working at TBM has given Tom the chance to really get to grips with the goings-on in the business hive that is the South East.