Brazilian gaming and lifestyle company Final Level has announced the acquisition of design, video and production studio madmonkey.
madmonkey has a notable client portfolio for its audiovisual and production services, including Riot Games, Garena and Tencent, as well as esports organisations such as Fluxo and TSM FTX. Financial details were not disclosed.
Through the acquisition, Final Level Co. merges madmonkey’s 150 current projects and 50 clients. The studio’s former owners, Brunno ‘Gujo’ Portela, Raphael ‘PDN’ Freitas and Ge Alves, will assume the roles of Creative Strategy and Products, Director of Operations and Broadcast Operations for Final Level, respectively.
Both Portela and Freitas had already filled positions in Final Level prior to the merger, parallel to their roles in madmonkey. The studio’s brand will be kept due to its reputation in the local scene. Moreover, Alves will act as its COO while it functions within Final Level’s structure.
This is Final Level’s second acquisition this year as the company continues its aggressive expansion in gaming, entertainment and esports. The company, which owns the Brazilian organisation Gamelanders, also acquired the creation company Nice House in March. Thanks to such expansion, Final Level was able to triple its revenue since 2021.
Final Level CEO, Fernanda Lobão, commented: “Our vision is to grow Final Level Co. as its own ecosystem of content, media and digital influencer marketing. The acquisition moves we are making are an important part of our acceleration plan. We are bringing outstanding entrepreneurs with complementary skills, full alignment of values, and big dreams.”
The merger competition counted on legal consultancy from JQLaw firm and financial advisory from Visagio, one of Final Level’s investors. Other investors of the company include OutField Capital, which is preparing to launch a ~£9.53m-£13.35m fund this year aiming at esports and entertainment initiatives.