Wargaming, the award-winning online game developer and publisher and one of the leaders in the free-to-play MMO market, has signed a contract with Rotos Developers to buy the impressive President Tower on Severis Avenue in Nicosia for €20 million.
The company, which moved its headquarters to Nicosia in 2011, was founded as a privately held company in 1998. It became a global phenomenon in 2011 when it launched “World of Tanks”, which currently boasting over 75 million players worldwide. Last month it introduced “World of Warplanes” and is due to launch “World of Warships” in 2014.
Wargaming employs around 2,200 professionals in North America, Europe, Russia, Asia and Australia.In 2012, Wargaming's revenue was declared to be €217.9 million, with a net profit of €6.1 million, declared in an annual report for the Cyprus Stock Exchange.
Wargaming’s present headquarters, in a renovated colonial building, are literally just a few metres away from the President Tower which is due to be completed in May 2014. The building will be the tallest in Nicosia and one of the most energy-efficient in the country thanks to an array of photovoltaics on the top.
Wargaming was one of nine companies to receive a CIPA International Investment Award in September in recognition of its contribution to the Cyprus economy.
