Future Games of London (FGOL) quickly established itself as a leading mobile free to play studio based in London by 2011. After releasing various iterations of its widely popular title Hungry Shark, FGOL achieved profitability and initially retained agnitio to raise a Series A round of investment. After approaching a wide range of European VCs and receiving a term sheet the founders decided to focus on the next title in development & cease discussions. Once its next iteration, Hungry Shark Evolution was launched and quickly became a worldwide grossing hit, FGOL believed it was more appropriate to consider selling the company given its size. The founders of FGOL decided to retain Agnitio again to achieve an exit of the studio.
Agnitio contacted the largest global publishers worldwide that would be the most appropriate acquirers based upon the geography, size and casual to midcore game focus of FGOL. Ubisoft was ultimately chosen as the most appropriate strategic buyer based upon the relationship that developed during the sale process and the potential synergies that could be realized post transaction. Agnitio negotiated the deal structure, valuation, and integration plan on behalf of the company.
The transaction completed in October 2013. Terms were not disclosed.