Test Fly, LLC acquired Red Cerberus from tinyBuild, Inc. for $1.5 million.
Published on 04/02/2025 at 18:00
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Test Fly, LLC acquired Red Cerberus from tinyBuild, Inc. (AIM:TBLD) for $1.5 million on April 3, 2025. The consideration of $1.5 million is subject to standard net working capital adjustments. The disposal will be marginally accretive in 2025 and the proceeds shall be used for general working capital purposes. For the period ending December 31, 2024, Red Cerberus reported total revenue of $4.3 million, net loss of $0.1 million and book value of $0.8 million.
Mark Whitmore, Ciaran Walsh and Milo Bonser of Joh. Berenberg, Gossler & Co. KG, London Branch acted as financial advisor to tinyBuild, Inc.
Test Fly, LLC completed the acquisition of Red Cerberus from tinyBuild, Inc. (AIM:TBLD) on April 3, 2025.
TinyBuild Inc. is a premium indie video games publisher and developer. The Company has a portfolio of over 80 titles across different genres, primarily for personal computers and consoles. It operates in one segment, the Companyâs portfolio of games is split between those based on IP owned by the Group and those based on IP owned by a third party. The Companyâs portfolio includes Lil' Gardsman, Tamarak Trai, Broken Roads, Astor: Blade of the Monolith, and Kill It With Fire 2. Lil' Gardsman is a deduction adventure. Tamarak Trai is a deck-building roguelike, with customizable dice as players battle through randomly generated trails. Astor: Blade of the Monolith is a fast-paced action RPG where players play as Astor, a young warrior determined to unveil the secrets behind his creators' unforeseen demise. Its subsidiaries include tinyBuild LLC, tinyBuild BV, Pine Events Inc., DevGamm LLC, Hologryph LLC, Moon Moose LLC, Hungry Couch LLC, and Animal LLC.
