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Romanian games studio Amber targets 36% rise in 2021 turnover, further intl expansion

Romanian games studio Amber targets 36% rise in 2021 turnover, further intl expansion Amber Studio

BUCHAREST (Romania), September 9 (SeeNews) - Romanian independent game development studio Amber said on Thursday it targets a 36% rise in turnover in 2021 to 117 million lei ($28 million/ 24 million euro) and plans to continue its international expansion.

"We are considering different scenarios, including potential cross-border M&As, partnerships with strategic investors and even listing on the local or international stock exchange," Amber Studio CEO Jaime Gine said, as quoted in a company press release.

In 2020, Amber acquired two new studios – Bucharest-based Scorpius Games and KaraOkulta, a game development company based in Guadalajara, Mexico.

Amber's 800 employees work across two continents, from offices in Bucharest, Botosani, San Francisco, Los Angeles, Montreal and Guadalajara. In addition, Amber intends to hire an additional 100 game development professionals before the end of the year.

"As Amber overpassed 800 employees, our operations became more complex and mature, based on two continents. However, despite the size of the business, we maintain our flexibility and, above all, our reputation for developing solid titles for key global brands," Amber Studio executive chairman Mihai Pohontu said.

During the first half of 2021, the studio booked a turnover of 50 million lei, up by an annual 45%. Some 65% of revenues came from R&D activity - game development and the remaining 35% from development support services, including quality assurance, customer support, and localisation.

In 2020, Amber registered a turnover of 86 million lei, up by an annual 50%. The Compound Annual Growth Rate of Amber Studio for the 2017-2021 period is 53%.

Amber Studio was founded in 2013 in Bucharest.

(1 euro=4.9482 lei)

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