Roblox (NYSE: RBLX) shares have fallen along with most of the market on Monday after the company announced the acquisition of Guilded Inc.
There were no financial details provided. However, Guilded is described as a privately held company “focused on building a platform to connect gaming communities.”
The company launched in 2017 and has since built a platform to connect gaming communities, including tools and features such as tiered voice chat, video chat, integrated calendars, scheduling tools, and more.
“The Guilded team has a clear passion for empowering communities,” said David Baszucki, CEO of Roblox.
“They have a great team and technology, and we’re very excited to help them continue on their path,” he added.
Guilded will continue to operate as an independent product group following the acquisition.
Roblox's share price has fallen over 4% to $80.49 following the announcement. However, most major US stocks are down so far on Monday.
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