UK-based computer game technology developer PlayCanvas has been acquired by messaging platform Snap for an undisclosed sum, allowing media group DC Thomson to exit, Business Insider has reported
The companies have not disclosed when the deal was closed, but a regulatory filing indicates PlayCanvas shares were transferred to Snap in May 2017. Snap applied to trademark the name PlayCanvas in January this year.
Founded in 2011, PlayCanvas has developed an open-source engine for producing games on web-based platforms popular with casual gamers, such as internet browsers or social media networks. The technology supports 3D graphics as well as virtual and augmented reality.
PlayCanvas counts mobile game developer King and entertainment producers Disney and Nickelodeon among its users. The engine also powers 3D product rendering at off-road vehicle manufacturer Polaris and engineering group Trelleborg.
PlayCanvas had raised about $590,000 in funding pre-acquisition, according to Business Insider. It secured $470,000 in a 2014 seed round led by DC’s corporate venturing unit, DC Thomson Ventures, and 500 Startups and Techstars London were also investors.