My.Games co-founder and former COO of Mail.ru Group (now VK), Vladimir Nikolsky, founded the Cypriot gaming holding company Utmost Games. Its portfolio includes developer Top App Games and publisher Digital Vortex, Kommersant has learned.
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According to the publication’s sources, the Utmost Games holding company was created to consolidate assets under the management of a single company. Investments in the new project, according to market participants, could range between 20 and 40 million dollars. The financing is carried out with Vladimir Nikolsky’s own funds.
Top App Games was created in August 2022, its star project is the game Ludus. The co-founders of the company were Vladimir Nikolsky and Vladimir Markov, the latter headed Studio Nord as part of the Mail.ru Group.
Digital Vortex, registered in May 2023, offers different models of cooperation with game developers: full and partial publishing. The company also offers white label services: a full or partial cycle of services without indicating Digital Vortex as the publisher. The publisher’s team worked on projects such as Atomic Heart, Skyforge, Warface, Lost Ark, PUBG Battlegrounds and World of Warships.
- In fall 2022, VK announced the sale of its gaming business, My.Games, to Leta Capital managing partner Alexander Chachava. The transaction amount was $642 million, which included all the company’s assets.
- In December of the same year, Alexander Chachava announced the restructuring of his gaming assets. The part of the My.Games business that generates revenue in the Russian market was spun off into an independent company, Astrum Entertainment.
Author:
Karina Pardaeva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.