Service provider PTW has acquired co-development studio Ghostpunch Games for $13 million.
Deborah Kirkham, CEO of PTW, said the deal will allow the company to “deliver exceptional development services” to its global partners.
“Ghostpunch is a highly respected development partner for numerous top AAA studios, with an impressive retention rate of over 90 percent,” added Kirkham, who described the studio as an “exceptional” company with an “impressive reputation.”
Founded in 2015, Ghostpunch currently has over 60 employees working on projects across a variety of platforms. The studio is familiar with middleware technology such as Unity and Unreal and has worked on notable franchises including Fortnite, Mortal Combat, Borderlands, Risk of Rain, Civilization, and Prey.
In particular, PTW believes that the firm's extensive experience can be combined with its “in-depth knowledge of quality assurance” to offer clients new AI-based quality assurance automation and other services in the future.
“Further synergies can be seen through the combination of PTW’s AI-based art technology and Ghostpunch’s art integration capabilities, which will introduce new integrated generative art technology offerings to the video game industry,” a press release reads.
The move will involve a leadership shakeup. Ghostpunch executive producer Hugh Falk will become site manager at PTW’s Ft. Lauderdale office, while chief technology officer Alejandro Garcia-Tunon will assume the role of joint development director. Both will report to PTW chief operating officer Sijo Jose.
“Rick Daniels, the current COO, will assume the position of Head of Sales for Art and Co-Development, reporting to PTW Chief Revenue Officer Kaley Hurst,” the press release continues. “Finally, Devon Browne, the current Director of Animation, will become PTW’s Senior Head of Animation, reporting to Falk.”
Commenting on the deal, Daniels said it represents a “significant milestone” for Ghostpunch and will allow the studio to “elevate” its game development capabilities. “We look forward to continuing to provide world-class game development services and expanding PTW's co-development business line to clients around the world,” they added.
PTW currently has over 40 studios worldwide and has worked on over 1,500 titles over the past decade. The company 45 workers laid off in January 2024 but has also expanded significantly in recent years. In May, has opened a new mocap studio in collaboration with Imaginarium and previously opened new offices in Portugal, Tokyo and Brazil.