VK plans to sell the My.Games gaming division, including the studios and gaming products, for 642 million dollars. The buyer is Alexandr Chachava, the managing partner of LETA Capital.

After the acquisition, the founder of My.Games Vladimir Nikolskiy will continue managing the company. VK will develop gaming services under the VK Play brand headed by Vasiliy Maguryan, who has led the VK gaming division for over 8 years.

According to the source of Kommersant, it was the removal of VK apps from AppStore that forced the parties to close the deal. The gaming division generated one third of VK’s revenue. At the end of Q3 of 2021, 77% of sales of My.Games were made outside Russia and the CIS countries, primarily in the USA, Germany and France.

The plans of VK to sell My.Games were announced at the end of March, but the company did not comment on the situation at that time.

Original in Russian