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Splash Damage acquired by Leyou Technologies

Global innovation for high-end computer and video games.

London, 11 May 2017 - GP Bullhound, the technology investment bank, acted as the exclusive financial advisor to Splash Damage on its sale to Leyou Technologies (“Leyou”), in a transaction valued at up to $160 million.

Based in London, Splash Damage is a high-end computer and video games development studio that develops video games across multiple platforms including next generation consoles, personal computers and mobile devices.

Founded in 2001, the studio has developed or co-developed ‘‘blockbuster’’ sequels to several of the world’s most successful video game franchises including Wolfenstein Enemy Territory, Doom 3, Batman: Arkham Origins, and Gears of War: Ultimate Edition. Led by co-founder Paul Wedgwood, the company has won over 300 awards and nominations around the world including the “Best Independent Developer” at the peer-voted Develop Awards.

With the acquisition of Splash Damage, Hong Kong based Leyou plans to further diversify its portfolio and expand its global gaming business. As part of the transaction, Leyou is also acquiring Fireteam, the Splash Damage online Services business and Warchest, a digital publishing affiliate of Splash Damage for free-to-play titles on mobile and PC including RAD Soldiers and Dirty Bomb. The acquisition of Splash Damage, Fireteam and Warchest complements Leyou’s previous acquisition of Digital Extremes and enhances its capabilities in the fast-growing video game industry.

Paul Wedgwood, co-Founder and CEO of Splash Damage commented: “This transaction enables Splash Damage to continue working on major titles with the world’s leading publishers, as well as accelerate the development of our own portfolio of original IP titles. GP Bullhound has worked with Splash Damage for four years now and has been a great advisor throughout this journey. Their expertise and relationships in the sector have proven invaluable in identifying the best partner and delivering a great outcome.”

Alec Dafferner, Partner of GP Bullhound, and Alexis Scorer, Director, commented: “We are pleased to have successfully advised Splash Damage, a global innovator in the games industry and one of the UK’s leading studios. The transaction further highlights our deep domain expertise in the games sector as well as our global buyer relationships.”

This represents GP Bullhound’s second sale of a European company to a Chinese buyer in 2017, underscoring GP Bullhound’s access to Asia, following on from successful transactions completed for Rightware (sale to Thundersoft), The Bio Agency (sale to Tech Mahindra), Designit (sale to Wipro) and Libratone (sale to China-based consortium). It is also the fourth transaction the firm has closed in the gaming sector in the last nine months and emphasises its track record of working with leading companies in the global games industry.

For enquiries please contact:
Alec Dafferner at
Alexis Scorer at

About GP Bullhound
GP Bullhound is a leading European technology investment bank with a passion for entrepreneurship. Founded in 1999, the firm today has offices in London, San Francisco, Stockholm, Berlin, Manchester and Paris. The firm’s advisory team has completed over 240 M&A and Capital transactions to date, working with category leaders including Essence, Avito, Delivery Hero, Fjord, King Digital Entertainment, Pingdom, Innogames, Spotify and many more. Through its principal investment team, GP Bullhound provides institutions, family offices and entrepreneurs with access to some of the most ambitious privately-held technology and media companies in Europe. The firm’s events and speaking activities bring together thousands of Europe’s leading digital entrepreneurs and technology investors throughout the year, and its thought-leading research is read by decision makers globally, and regularly cited in leading newspapers and publications. For more information, please visit, or follow on Twitter @GPBullhound

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