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Hero Wars developer Nexters to restructure as GDEV Inc

The company resumed trading on the NASDAQ this year
Hero Wars developer Nexters to restructure as GDEV Inc

Hero Wars developer Nexters is set to restructure and go under a new name, GDEV Inc.

Nexters was previously halted from trading on the NASDAQ as part of a series of sanctions against Russian-operated companies after the start of the war in Ukraine in February 2022. From a large group of companies, including Yandex, OZON, Headhunter and Qiwi among others, Nexters was the only company that was eventually restored to the NASDAQ after halting its operations in Russia and relocating all employees out of the country.

Now the company is set to pursue a fresh start, with Nexters set to become Nexters Studio as a wholly owned subsidiary of their new parent entity GDEV Inc.

"We are excited to announce a significant evolution in our company's strategic direction. As part of this initiative, we have designated GDEV as a central hub, responsible for consolidating and nurturing the growth of our studios and successful franchises. Concurrently, Nexters and our other studios will concentrate their efforts on the intricate art of game development," says CEO of GDEV Andrey Fadeev. “By implementing this approach, our goal is to optimise efficiency and cultivate a culture of transparency and cooperation within our organisation.”

A new moniker

The decision to reorganise, restructure and thus rebrand is not a surprising one. As many companies which formerly operated in Russia or had a majority of their work taking place there, despite efforts to entirely divest and move operations - at great expense - from the sanctioned country, have still been weighed down by the association of their names with the country’s market.

We've previously reported on how Azur games removed their business from Russia, and spoke to Elena Grigoryan about the struggles and success that My.Games have found after their move.

Nexters had been eager to tout their return to the NASDAQ as a confirmation of how they had shed these old ties, but the decision to embrace a new name and identity will hopefully allay the fears and concerns of potential business partners and customers.

Nexters already operates highly successful titles such as Hero Wars, Island Questaway, Throne Rush, and according to them, there’s a strong possibility more studios will join their lineup which already consists of Cubic Games and Dragon Machines.