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Twisted Oak Studios Bought by River

Posted by Entrevestor on January 12, 2016 in News, Alumni & Friends

Devin Horsman graduated with his Bachelor of Computer Science degree from the Faculty of Computer Science in 2009. Devin has also been recognized by Forbes as 30 under 30 in Games (2016).

Read the full story by Peter Moreira on Entrevestor.

Twisted Oak Studios, a Halifax gaming studio specializing in virtual reality, was bought for millions of dollars by River Studios of San Francisco.

The deal was signed in August, and it allowed Twisted Oak, now named River Canada, to remain in Halifax, grow its development team and sharpen its focus on the growing business of virtual reality.

“It provides a lot of stability,” said co-founder Devin Horsman in an interview. “It means expansion. We’ve almost tripled in size since then. We have about 13 people now.”

Horsman and co-founder Matthew Jewkes are providing few details of the deal, other than to say it was worth seven figures. River Studios, which is backed by seed-stage venture capital fund Rothenberg Ventures of San Francisco, initiated the deal to buy the engineering team, as well as Twisted Oak’s intellectual property.

Horsman will continue to lead the acquired company as the director of River Canada, as well as joining River Studios International as technical director.

In the last month, Forbes magazine named Horsman one of the top 30 people under 30 in the gaming industry.

Read the full story by Peter Moreira on Entrevestor.