Confrapar sells Oktagon to Las Vegas Sands Corporation

Oktagon Games, a Brazilian mobile game development company, has been acquired by Fortis, a multinational video game company newly established as part of the Las Vegas Sands group. The value of the transaction has not yet been disclosed. Founded in 2008 in Paraná, the company employs 92 people and has 22 games for mobile platforms, including Magic Puzzle, well-known to the Brazilian audience.

Established in 2008 in Londrina (Paraná) by Ronaldo Cruz, the current CEO, Oktagon features 22 games for mobile platforms, with titles such as Magic Puzzle Quest, Armies & Ants, and Dungeon Battles.

In 2008, the company received an investment of R$ 2 million from the NascenTI fund, managed by Confrapar Participações, focusing on technological investments. With 92 employees, the company now becomes part of Fortis, a company belonging to the Las Vegas Sands group of resorts and casinos, which has been heavily investing in the video game sector.

Recently, Fortis acquired the game development companies Doppio Games from Portugal and Metagame from Romania.

Created by executives who worked at game creator studios such as Electronic Arts, Zynga, and WB Games, Fortis was founded with a team of 150 people operating in the United States, United Kingdom, Canada, and now with these acquisitions, in Brazil, Portugal, and Romania.

The co-founder and president of the company, Steven Chiang, was the head of Zynga, creator of games like FarmVille, at WB Games and EA Tiburon studios.

Fortis stated in an announcement that it “will focus on creating the next generation of games as a service model, driving game design and social mechanics to enable digital societies and lasting group experiences that foster relationships and memories.”

Patrick Dumont, president of Sands, said the group intends to “invest in long-term scale to help Fortis stand out.”

The Brazilian gaming industry has been reaching record numbers. Last year, exports of games developed in the country grew by 600%, represented by a total of 140 companies participating in the Brazil Games project.

The initiative is from APEX and Abragames (Brazilian Association of Electronic Game Developers). In total, the revenue exceeded R$ 10 billion (US$ 2 billion). In May 2021, the Brazilian company Wildlife became the first gaming company in Latin America to become a unicorn, that is, valued at more than US$ 1 billion.