Chinese GAEA and Russian Gaming Firms Plan Merger, IPO

Published on: December 6, 2019
Author: Amy Liu

Chinese video game firm GAEA Group and Russian counterpart Gaijin Entertainment plan to merge their businesses and seek an initial public offering outside the Chinese mainland.

The partnership will combine Gaijin’s expertise in personal computer and console game development and publishing with GAEA’s mobile experience and Asian market knowledge, according to a statement published on GAEA’s website yesterday. It did not disclose the financial details of the deal.

The two firms have been working together for five years and in March this year teamed up to develop and distribute a mobile version of Gaijin’s vehicular combat game Crossout in Asia and explore capital operations. Crossout made its PC debut in 2017.

Founded in 2002, Gaijin also runs another vehicular combat game, the free-to-play War Thunder, which uses the company’s own Dagor gaming engine. It has several studios and is Russia’s largest independent developer covering all platforms.

GAEA set up shop in 2014 and already has offices in the United States, Japan, South Korea and Hong Kong. It has more than 1,000 employees worldwide and developed Dota Legend, Legendary Sword 3D and other games, which have over 100 million players combined.