The Courier & Advertiser (Fife Edition)
Gaming firm sold for $375m moving into City Quay site
Fast-growing Dundee games company Hutch will move into new city premises after it was bought for $375 million.
Founded a decade ago, London-based Hutch established a studio at the Dundee and Angus College campus on Gardyne Road in 2018.
The firm’s games, which include Rebel Racing, F1 Manager and Top Drives, have been downloaded 300 million times.
This success led to it being acquired by Stockholm-based investment company Modern Times Group (MTG) in December.
Now it has become the latest tech business to move into Water’s Edge at City Quay.
Peter Hansen-Chambers, chief financial officer at Hutch, hopes the move will capitalise on the city’s tech skills.
“Dundee has always had a reputation for fantastic games talent,” he said.
“That made it very attractive to us as we seek to grow. Although very different to our London office, there are similarities in that the building has a great deal of individual character and represents a link with Dundee’s history.
“There has clearly been a lot of investment into the area, and seeing that alongside the city’s rich heritage is very impressive.”
Water’s Edge is owned by Chris van der Kuyl and Paddy Burns, owners of 4J Studios.
The tech entrepreneurs are best known for their part in the global success of Minecraft with their company 4J Studios.
They carried out a £7m refurbishment of listed building Transit Shed 25.
Its tenants include 4J Studios, Broker Insights, Puny Astronaut, Ace Aquatec and Predict Mobile.
Aberdeen-headquartered finance advisory specialists Hutcheon Mearns has also moved into the Water’s Edge building.
Craig Hutcheon, managing director at Hutcheon Mearns, said: “The innovative facilities available at Water’s Edge, combined with the prime location, were key in deciding to base our Dundee presence there as we continue to grow.”
The 29,500sq ft site includes a modern coworking space, which has grown in popularity during the Covid pandemic.
Mr Burns said: “The abundance of talent in Dundee and the energy in the wider tech ecosystem are making Scotland a greater draw for major digital employers.”