Winking Studio raises $10m as part of dual listing on London Stock Exchange

Outsourcing and development business, Winking Studios, has raised £7.9m ($10.1m) as part of its dual listing on the AIM Market of the London Stock Exchange.

This supplements "more than $30m of existing available cash resources to support mergers and acquisitions and expansion into Europe and North America."

Winking said The Placing was supported by its existing majority shareholder Acer Group.

The company said it works with 22 of the 25 of the world’s top game developers, including Activision, EA, and Ubisoft on major franchises including Call of Duty, FIFA and Assassin’s Creed, respectively.

"We believe Winking Studios has a significant opportunity to expand its presence globally, and dual listing on AIM will further support our global ambitions and position us to accelerate growth," said Johnny Jan, Winking founder and CEO when it announced its intention to float.

"London feels like the obvious choice, as it gives us a foothold in a market known for its deep understanding of the global gaming industry and support for ambitious international firms like Winking Studios.

"Operating in a fast-growing industry, with a proven track record of delivery and relationships with the majority of the world's biggest game developers, we plan to build on our success to date and capitalise on the fragmented nature of the industry landscape to drive future growth," Jan concluded.