Cyprus developer Top App Games celebrates two-year growth milestone

Cyprus-based mobile game developer Top App Games Ltd announced on Thursday that its strategy RPG Ludus: Merge Arena has passed $50 million in net revenue since launch, with $66 million in gross revenue also recorded, underscoring the scale of the game’s growth from its Limassol roots.

The findings were shared by Greek business outlet Newmoney, which reported that the title has now been played by more than 11 million people worldwide after starting as a small soft launch two years ago.

The company said the game has evolved sharply over that period, growing from 25 heroes at launch to more than 100 today, with each character now able to be built and played in different ways.

Top App Games said the expansion has been driven by a series of additions including Clan Wars, Divisions, Hero Perks, player-launched mini-events and Spells, all of which have reshaped the original merge-and-battle format.

The studio also pointed to crossover content as part of that growth, including a recent collaboration that brought characters from Corvus Belli’s Warcrow into the game.

“We soft launched with 25 heroes, and we always knew the game would find its real shape in players’ hands,” said Vladimir Markov, chief executive and studio head of Top App Games Ltd.

“Two years and more than a 100 heroes later, the people who play every day are the ones who built this game with us. Almost every system we have added started with watching how they wanted to compete,” Markov added.

Top App Games described Ludus: Merge Arena as a real-time PvP strategy game in which players collect, combine and upgrade heroes with unique abilities to build decks capable of defeating opponents around the world.

It further stated that seasonal tournaments, battle passes and event rewards have helped create a competitive but welcoming environment for both casual and serious players.

The company, which was founded in 2024 in Cyprus and is part of Utmost Games holding, said it focuses on mobile strategy titles and combines real-time PvP mechanics with card-based RPG elements.

Top App Games said the success of Ludus has helped push the business towards more ambitious projects and global expansion.

Utmost Games, the wider holding company, is led by Vladimir Nikolsky and has interests in mobile as well as PC and console studios including Top App Games, Digital Vortex and Mamboo.