Landmark anniversary year capped with historic link to stunning UK success story
Hutch Games – funded via the UK Games Fund’s predecessor project, the Prototype Fund in 2012 – announced this week that it had been acquired by Modern Times Group for an expected $375 million. Of the total, $275 million is an up-front consideration, while the rest will stem from earn-out payments at an expected value of $100 total.
Hutch came to us when their vision was to be the leading studio in “making the best racing games for mobile.” Since then, the company has grown in size and the portfolio of games continues to succeed in the mobile market.
More recently, CEO and Co-Founder of Hutch – Shaun Rutland – has supported our UKGTF Community Events, attending in-person where possible.
In this clip from one of our early Community Connect event, Shaun speaks to us about how Hutch had evolved over the years.
As well as the support for Hutch Games, the Prototype Fund also funded their now Director of Product, Jonathan Alpine, in his previous role in Dundee-based NoodlFroot.
Paul Durrant, Director at UKGTF, said:
“Our key aim at the UK Games Fund is to build and bolster the early-stage games development ecosystem with funding and peer to peer support. Hutch is a spectacular example of what can be achieved by following a clear vision shared across the business. Founder Shaun Rutland has continued to encourage and inform other new games studios and participated in our community events. Their Director of Product, Jonathan Alpine, also joined Hutch after founding another of our early funded companies demonstrating the inter-connections of our community.”
These and other impressive achievements from our extended community are demonstrable outputs of what a publicly funded not-for-profit grant awarding CIC can do; that is to create long-lasting impact in the game development sector with inward investment, job creation and significant cultural recognition of success.