BDC Capital acquires minority interest in Budge Studios
BDC Capital Growth and Transition Capital has invested $3 million for a minority interest in Budge Studios, a leading applications developer and publisher of children’s apps for smartphones and tablets.
BDC Capital equity investment will allow Budge to further its expansion plans through key initiatives such as evolving their current platforms and expanding their catalogue of applications. The management team will also work to set the foundation for continued growth in what is a highly competitive and fast growing industry.
“It’s critical that we continue to actively support innovative Canadian companies like Budge,” said BDC Capital’s Benoît Mignacco, Managing Director, Growth and Transition Capital. “Keeping that kind of talent local is a source of pride and of great importance for BDC as these companies have a huge impact on the next generation of global application producers and on the vibrancy of the communities in which they operate.”
“We’re proud to welcome BDC Capital to the Budge family as a minority shareholder,” said David Lipes, co-CEO of Budge Studios. “Not only does this investment reflect a renewed vote of confidence in our company, but it will go a long way to securing Budge’s current position as one of the top children’s app developers and publishers in the world.”
“We’ve seen such impressive growth from Budge in the past few years that reinforcing our partnership at this critical stage in their growth is the right decision,” added Benoît. “We want to make sure they have the necessary resources to maintain their position as the flagship organization in Montreal’s tech and gaming industry.”
Budge Studios was formed from the amalgamation of Budge Studios and Wave Generation.