Singapore listed social e-commerce company YuuZoo Corporation announced Tuesday that it had acquired ‘key assets’ of Camigo Media LLC, a leading mobile game developer based in China. The deal includes user data for over 26 million users as well as 11 leading mobile games and the Camigo brand, the company added.
YuuZoo did not give the transaction size, but said that it would make the payment via its shares. The social e-commerce solutions provider also said the deal represents less than half of 1 per cent of its issued shares.
More about the Asian Games Industry: InsideGamesAsia.biz
Three of Camigo’s mobile games have reached the number one position in the iOS Appstore in China, and reached 5.4 million monthly active users.The acquired by YuuZoo also include seven educational games targeted at young children, and the company plans to integrate these games, which teach mathematics and reading, into the YuuKids platform, which it plans to launch in China in 2015.
The deal will also see YuuZoo benefit from Camigo’s distribution and payment relationships that include, China Mobile, China Unicom, China Telecom, DoMob, LiMei and AliPay.
Camigo’s bestselling game is MeWantBamboo, which has seen over one million downloads in just the week of its launch. YuuZoo has also bought out the entire MeWantBamboo franchise, which includes, four launched games, with a total user base of over 19 million, and one brand new game under development.
YuuZoo, in a regulatory filing said that during five years of operations, Camigo had built a user base of over 26 million users, with 60 per cent of all downloads from China, and added that the average revenue per paying user in that country had touched $32.36 million in Q1/2014.
First seen at: Dealstreetasia
More information: YuuZoo