The silent success of Virtuos Games

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Hello readers,

I’m not much of a gamer. The last video game I finished was Pokemon FireRed on the Game Boy Advance SP, and that was a very long time ago. These days, my fascination lies mostly in casual mobile games – my current obsession is Adorable Home, which is centered around home decor and taking care of in-game cats.

Whether we’re talking about first-person shooters or puzzle apps, games require lots of time, effort, and money to develop, which is why major studios have entire armies of creatives working to launch new titles. Indeed, many of these gaming companies rely on outsourced labor to keep development going and costs down – which is where Singapore-based Virtuos Games has made its mark.

Today we look at,

• How Virtuos Games has grown quietly – and successfully – over the last 17 years
• What this Indonesian agritech firm is doing with its fresh funding
• Other newsy highlights such as the lawsuit GoTo is facing over its name and Shopee’s foray into the hospitality sector

Premium summary

To the next level

Image credit: Timmy Loen

When it comes to gaming companies, there are a few major names that people know – Ubisoft, Activision Blizzard, Epic Games, and the like. Singapore-based Virtuos Games has largely flown under the radar, but it’s turned a profit almost every quarter since it was founded 17 years ago. And in 2020, it recorded some US$90 million in revenue and about US$15 million in total earnings before interest, taxes, depreciation, and amortization.

• Working behind the scenes: Virtuos is a game outsourcing company. It doesn’t produce its own games – instead, it helps some of the world’s largest game companies churn out hits like Assassin’s Creed and Shadow of the Tomb Raider by providing artists, engineers, and producers.

• All the right reasons: According to CEO Gilles Langourieux, Virtuos’ success came about because it was in the right place at the right time. It helps major publishers create better, bigger games without tripling their development budgets by giving them access to lower-cost talent and greater flexibility in boosting their workforce. It’s also got a global presence, giving it an edge over competitors.

• What’s next? Virtuos has plans to “develop original titles,” which would involve either creating game prototypes that it pitches to clients or co-developing entire games with them, a move that would take the company to the next level of the value chain.

Read more: An SG gaming firm’s breakout moment after years of quiet success

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