October 2016


agnitio had known the management team of PerBlue for some years and maintained contact especially after the launch of DragonSoul, an action RPG title that rapidly climbed the top grossing charts in most Western countries. Given the sustained strong performance of DragonSoul, PerBlue began receiving inbound interest from a handful of large game publishers. It was at this juncture that the company felt it would be wise to engage an investment bank to evaluate strategic options. 


Once appointed, agnitio approached the largest games publishers worldwide which included making frequent trips to Asia. Ultimately, PerBlue chose to progress discussions with GREE as both parties managed to find a creative and mutually beneficial deal structure.  

agnitio negotiated, structured and managed the entire sale process of the DragonSoul IP to GREE.

The Transaction

PerBlue shareholders received $35 million in cash from GREE for all assets and IP related to the DragonSoul title. At transaction close, DragonSoul achieved a topgrossing overall chart position in the US of 37 on Google Play and 154 on iOS. The title secured higher overall chart position on both Google Play and iOS in other key Western countries including as Germany, Canada and Russia.