Devolver Digital intends to go private

Indie game publisher Devolver Digital is planning to return to private ownership later this year. The company announced its intention to delist from the UK's AIM market, with shareholders set to vote at their annual general meeting on September 8. If approved, Devolver will cease being publicly traded on September 16.

Founded in November 2021 with a valuation of £694.6 million ($950 million), Devolver's management has faced challenges in delivering growth amid the volatile video games market since its IPO. The company's share price has plummeted by 96.27% since going public, reducing its market capitalization to £34.64 million ($46.63 million).

Going private is projected to save Devolver around £1.6 million annually. The company's board, along with a spokesperson, believes becoming private is in the best interests of Devolver, its employees, partners, and shareholders. They intend to focus solely on the long-term health of the company, rather than meeting the demands of the public market, which they feel are unrelated to successful game publishing.