Five years after going public on the London Stock Exchange, indie publisher Devolver Digital wants to go back to being a private company. In a message posted on the company's website, Devolver's board of directors delivered a frank assessment of the company's current state, saying they believe it is undervalued—in large part because of inherent incompatibilities between the videogame industry and the stock market.
There's plenty of procedural guffola to dig through in the announcement if that's your thing, but what's especially interesting to me are Devolver's reasons for wanting to withdraw from the exchange. It's possibly the most succinct 'creating value for shareholders is going to kill us all' filings I've ever read.
Devolver went public in November 2021, a move CEO Douglas Morin said at the time would "ensure our continued growth and support even more wonderful games. Most importantly, it wi...
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