Nice write up.. Had a question regarding the graph where you show the studio expansion, dont you think the 2021 increase in headcount could be due to the acquisitions that EVO made?
Hi Katrik, acquisitions definitely cause some distortion on top of the "organic" hirings. AFAIK, NetEnt acquisition was closed on December 1, 2020. Since I used year-end headcount numbers (not annual average FTEs), I'd expect the NetEnt employees to be added in the 2020 figures. Remember that early during the pandemic, EVO actually downsized its own studio operations (though sales actually kept increasing).
I don't expect acquisitions other than NetEnt to have had a huge effect on headcount.
Nice write up.. Had a question regarding the graph where you show the studio expansion, dont you think the 2021 increase in headcount could be due to the acquisitions that EVO made?
Hi Katrik, acquisitions definitely cause some distortion on top of the "organic" hirings. AFAIK, NetEnt acquisition was closed on December 1, 2020. Since I used year-end headcount numbers (not annual average FTEs), I'd expect the NetEnt employees to be added in the 2020 figures. Remember that early during the pandemic, EVO actually downsized its own studio operations (though sales actually kept increasing).
I don't expect acquisitions other than NetEnt to have had a huge effect on headcount.
Thank you for the write-up!
good stuff!