Synova invests in Mediatonic

The transaction is the seventh investment from Synova's third fund, which typically invests £10-30m per transaction.

Following the deal, Mediatonic will invest in product development and pursue an increase in its number of partnerships with publishers and media-related intellectual property owners.

Synova managing partner Philip Shapiro and investment director Zachary Tsai will take seats on the Mediatonic board as part of the deal.

The GP recently sold financial services data business Defaqto to trade buyer The SimplyBiz Group for £74.3m, bringing the average returns of its second fund to 5x to date.

Company
Founded in 2005, Mediatonic is a video game developer and publisher that typically focuses on the mobile and free-to-play market. Its titles include Gears Pop! and Fantastic Beasts: Cases from the Wizarding World. The company has worked alongside publishers including Square Enix and Scopely.

People
Synova Capital – Philip Shapiro (managing partner); Zachary Tsai (investment director); Thomas Usher (investment manager); Emily Bullman (investment executive).
Mediatonic Games – Dave Bailey (CEO, co-founder); Paul Croft (co-founder).

Advisers
Equity – PwC (financial due diligence, commercial due diligence); Osborne Clark (legal); Intuitus (IT due diligence); Deloitte (tax).
Vendor – GCA Altium (corporate finance).

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• Topics
• Buyouts
• UK / Ireland
• Technology
• United Kingdom
• Synova Capital
• PwC
• Deloitte
• GCA Altium
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• Intuitus