Versus Evil and Red Cerberus join tinyBuild


Publisher tinyBuild announces two new major acquisitions; US-based publisher Versus Evil (The Banner Saga, Pillars Of Eternity) and 250-strong Sao Paulo-based QA and testing studio Red Cerberus.

  • Maximum consideration up to $31.3m ($12.5m upfront + $18.8m in earnouts over three years)

  • Versus Evil will continue as complementary publishing label, experienced in RPGs and turn-based strategies

  • The acquisition adds 32 titles to tinyBuild’s portfolio, diversifying into new genres

  • tinyBuild’s staff more than doubled since IPO to >400

Seattle, November 23, 2021 — Today, publisher and developer tinyBuild has announced the acquisition of two more outfits across both North and South America.


Today, Versus Evil and Red Cerberus join with the Seattle-based publisher tinyBuild. A respected publisher among developers, Versus Evil have put their name to some of the most striking and critically acclaimed games in recent years, partnering with studios such as Stoic (The Banner Saga trilogy) and Obsidian (Pillars Of Eternity 2) to publish their titles across multiple platforms.


Red Cerberus is Versus Evil’s internal testing and QA studio created in cooperation with the Firehorse team. Located in Sao Paulo, Red Cerberus will provide tinyBuild and its first-party studios with dev and QA support, as well as open up the Latin America market and talent to the publisher.


With the addition of Versus Evil and Red Cerberus, tinyBuild has now completed seven M&A deals in 2021, putting over 400 staff under their umbrella across 11 locations globally. This is the fourth deal after the publisher’s IPO on London Stock Exchange in March 2021.


Alex Nichiporchik, co-founder and CEO of tinyBuild:


“Back in March we laid out a very clear strategy: we want ambitious founders to join us and help bring the company to a new level, together. This included several pillars for our M&A strategy, 3 of which are: a complimentary publishing label, an in-house service provider, and strategic expansion into emerging regions such as South America. With Versus Evil and Red Cerberus we achieve these 3 strategic goals. Steve Escalante is an industry veteran and built this great business, and we’re here to help take it to the next level. Welcome to the orange family!”


Steve Escalante, founder and General Manager of Versus Evil:


“The joining of tinyBuild couldn’t have come at a better time. By infusing capital and investing in more titles, I am very excited about the opportunities that will open up for Versus Evil as a publisher.


If you look back at other publishers, the introduction of new partners and injection of capital has catapulted them to the next level. And I’m excited about what this new phase will bring to Versus Evil.”


For Investor Relations please reach out to IR@tinybuild.com


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