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PTW America acquired Ghostpunch Games’ game-development outsourcing business, with the transfer closing on September 1, 2024. Pole To Win Holdings listed an estimated acquisition price of US$13.15 million. PTW announced the deal on August 27, 2024; the announcement date and closing date are distinct.
What did PTW acquire?
The parent-company filing describes the transaction as PTW America, Inc. taking over Ghostpunch Games, LLC’s game-development outsourcing service business. It does not establish that PTW bought the entire LLC or every asset associated with it. Side’s public announcement used the broader shorthand that Ghostpunch was joining the PTW family of brands.
Pole To Win Holdings disclosed an estimated acquisition price of US$13.15 million on August 27, 2024. That is the company’s estimate in its acquisition disclosure, not a separately reported final price.
When was the acquisition announced and closed?
| Milestone | Date | What happened |
|---|---|---|
| Announcement and acquisition disclosure | August 27, 2024 | Side announced that Ghostpunch would join the PTW family of brands. Pole To Win Holdings disclosed PTW America’s planned takeover of the game-development outsourcing business and the estimated price. |
| Business transfer closed | September 1, 2024 | Pole To Win Holdings reported that the transfer had closed. |
| Brand unification | March 2025 | PTW announced that its international brand family, including Ghostpunch Games, was unified under the Side brand. |
Why did PTW acquire the business?
Side said the acquisition would strengthen its development services, including co-development and porting. Pole To Win Holdings described the addition as expanding its game-development outsourcing activity alongside existing services.
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In its post-close update, the parent company said former Ghostpunch management had been integrated into PTW America, with roles intended to expand development outsourcing globally. It also described plans to offer that work to existing customers and use it to attract projects that could lead to demand for other services, such as game testing.
Side described Ghostpunch as an independent South Florida development studio with experience working with EA, Gearbox Software, Bethesda Game Studios and 2K. Those credentials and the strategic rationale are claims made by the acquiring company, not independent assessments.
What figures did the parent company report after closing?
Pole To Win Holdings’ 2025 post-acquisition update reported the Ghostpunch business’s contribution for September through December 2024, the four months after closing:
- Sales: ¥477 million.
- Operating profit before goodwill amortization: ¥121 million.
- Operating profit after goodwill amortization: ¥13 million.
These are parent-company-reported results for that four-month period. They are not full-year results, a current annual run rate, or independently verified figures.
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Is Ghostpunch Games still a separate brand?
Not within the international brand family as described in PTW’s March 2025 announcement: the company said it was unifying its brands under Side, including Ghostpunch Games. That announcement establishes the brand change, but does not establish Ghostpunch’s detailed operating status, staffing or service footprint as of October 8, 2026.
Sources: Side’s August 2024 announcement; Pole To Win Holdings’ acquisition disclosure; Pole To Win Holdings’ post-close update; Side’s March 2025 brand-unification announcement.
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