Madison Based PerBlue’s Game Acquired for $35m

The Madison startup scene got big news late week. Madison based game studio PerBlue’s game DragonSoul was acquired by GREE International Entertainment for $35m. Huge congrats to cofounders Justin Beck and Andrew Hanson, along with Forrest Woolworth and team.

In addition to being top notch entrepreneurs, Justin and Forrest have been huge supporters of Madison startups, Forward Fest and were founding members of Capital Entrepreneurs. Forrest continues to lead CE, along with being an integral part of PerBlue. It’s been amazing to see PerBlue grow from a few guys in Justin’s apartment to the amazing company they’ve built today. Thanks for all of your hard work, you guys deserve it!

From the link:

A popular mobile role playing game developed by Madison-based PerBlue Inc. has been acquired by GREE International Entertainment for $35 million, the companies said Thursday.

GREE acquired the game for $28 million in cash plus a $7 million debt payout.

DragonSoul, a fantasy mobile role-playing game, is among the most popular in the Apple App and Google Play stores. PerBlue launched the game in September 2015, it said in a blog post.


I hope this acquisition is just the first in a long line of successes for PerBlue (the team will keep making games!), and other Madison entrepreneurs who have been building companies over the past 12 years as the entrepreneurial ecosystem has matured.