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Swedish games studio invests in Milky Tea

milkytea

Swedish gaming group, Aonic, has taken a majority stake in Liverpool games studio, Milky Tea.

The financial details of the deal haven’t been revealed, but Milky Tea’s founder, Jonathan Holmes will remain as CEO and become a minority shareholder in the company.

“We have had a great relationship with Aonic’s leadership team for multiple years,” he explained.

“After we had decided to take the next strategic step in our development, we sat down with Aonic last April and immediately knew there was great potential in our collaboration. This new partnership is a fantastic opportunity and will allow Milky Tea to continue to go from strength to strength.”

The investment will mean Milky Tea will be able to grow its team and “double down” on IP development, more details on this are expected to be announced later in the year.

“The entire team at Aonic is incredibly passionate about Milky Tea’s exciting new IPs currently in the works, and with our shared vision, we believe our network can really support Milky Tea in making these games a success” added Olliver Heins, Co-founder of Aonic.

In February last year, Aonic said it was planning to invest more than $100m in its, then, newly established gaming group.

At the time it stated:

”What separates Aonic from other gaming groups is that Aonic is not a portfolio of studios, but a balanced family of gaming enthusiasts benefitting from Aonic’s infrastructure of game tech providers, work-for hire studios and service agencies which contribute true support.

“As a result, each studio will profit from cross-team knowledge transfer and can tap resources of Aonic’s support platform as desired.”

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