SEA Digest: Virtuos buys Vietnam's Glass Egg; Nium's real-time payments in Malaysia

Photo by Andrey Metelev on Unsplash

Singapore-based game developer Virtuos has acquired the Vietnamese art production studio Glass Egg Digital Media; while Singapore B2B payments company Nium has expanded real-time payments into Malaysia.

Game developer Virtuos buys Vietnam-based Glass Egg

Singapore-headquartered Virtuos, a game development company backed by Baring Private Equity Asia (BPEA), has acquired the Vietnam-based art production studio Glass Egg Digital Media, according to an announcement.

Together with Glass Egg, Virtuos will employ close to 1,000 game specialists in the country. Virtuos already owns game studio Sparx* in Vietnam. It said another studio will be opened in the country in June 2022. “This supports Virtuos’ goal of growing to 1,500 employees locally, and becoming the largest game development company in Vietnam.”

Following the acquisition, Glass Egg will rebrand itself as “Glass Egg – a Virtuos Studio”. The studio will continue to operate independently, with co-founders Phil Tran and Steve Reid staying on to helm the studio as CEO and CFO, respectively.

Glass Egg’s art production services cover 2D and 3D assets and concept design. It has contributed to notable games such as Call of Duty: Modern Warfare, Marvel Spider-Man, Jurassic World Evolution, Need for Speed Heat, Demon Souls, and Forza: Horizon 4.

With Vietnam being seen as a Southeast Asian game development hub, Virtuos expects it will get access to a deep pool of creative talent in the country. The company raised $150 million from BPEA in September last year.

Nium expands real-time payments to Malaysia

Nium, a Singapore-based B2B payments company has expanded its real-time payments into Malaysia. With the addition of Malaysia, Nium now processes real-time payments in 100 countries.

Nium also announced that it has secured an expanded licence in Malaysia. It is now able to onboard licensed corporations of all sizes to its platform — including Financial Institutions and PSPs — with higher outbound limits, up to 6 million ringitt per day, and the ability to control end-user pricing.

Most recently, Nium raised $5 million in a funding round. According to filings with Singapore’s Accounting and Corporate Regulatory Authority (ACRA) seen by  DealStreetAsaia – DATA VANTAGE, the fresh investment from New York-based Moore Strategic Ventures brings Nium’s Series D+ funding to nearly $8 million. It had raised $2.96 million in February as part of the round.

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