Fragbite sells Playdigious to venture fund Griffin Gaming Partners for $12.2m

Fragbite has divested Playdigious to venture fund Griffin Gaming Partners for $12.2 million (€10.5 million).

As part of the deal, gaming and esports firm Fragbite Group has obtained 90% of net revenue generated from PC games like Fretless – The Wrath of Riffson under its publishing business, Playdigious Originals.

Playdigious is mainly known for being a mobile publisher, with titles such as Dead Cells and Cultist Simulator. It also handles Switch releases.

Fragbite said that acquiring Playdigious in 2021 had been “a successful investment for the company,” adding that the divestiture enables the group “to secure a strong capital position and support new strategic initiatives.” Playdigious had been Fragbite Group’s largest subsidiary, representing 77 percent of the revenue in 2024. However, the company states the divestment will have a “limited effect on the strategy for the Gaming business area which relies on decentralization and focus on IP-rights, something which will remain.”

“Playdigious was acquired in 2021 and has been a successful investment. We now got the opportunity to divest the subsidiary in a favourable deal that allows us to secure a strong capital position, evolve Fragbite Group further and support new strategic initiatives such as the Bitcoin Treasury initiative,” said Fragbite CEO, Stefan Tengvall.

He continued: “Fragbite Group’s close ties to Playdigious, with founders Xavier Liard and Romain Tisserand and CEO Abrial Da Costa, are strong and our collaboration continues. We have always been very proud of the Playdigious team, and I want to thank all team members for being such a positive part of the group these years. I believe Playdigious will continue to grow together with the highly knowledgeable team at Griffin Gaming Partners and wish them the best of luck in future endeavours.”

Publisher Playdigious was acquired by Fragbite Group, formerly known as Swedish mobile game company FunRock, in 2021. Fragbite’s former CEO, Marcus Teilman, resigned from his position last year and was replaced by Tengvall.