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Japan's GREE acquires game developer Funzio for $210 million

GREE acquires Funzio in a deal worth $210 million, wants to focus on Western markets

| Business, Financial & Legal News | Posted: May 2, 2012 9:27 am

Mobile gaming outfit GREE has acquired US-based social game developer Funzio for a cool $210 million in a bid to increase their appeal in Western countries, and to produce more of their own titles. The Japanese firm who provides both a mobile social gaming platform and developers titles itself, is looking at the North American market and other new growth opportunities as they've already established themselves quite well in their homeland.

 

TweakTown image news/2/3/23869_08_japan_s_gree_acquires_game_developer_funzio_for_210_million.jpg

 

The deal is expected to be done by the end of May, with founder Yoshikazu Tanaka saying that it "means a lot to enhancing our global expansion". The mobile gaming scene is heating up, with just weeks ago Zynga purchasing OMGPOP, the guys and gals behind Draw Something. GREE may be a smaller player, but competition is always a good thing.

 

GREE isn't new to big acquisitions, where back in 2010 they acquired Openfeint for $109 million. That deal boosted their platform, and the new Funzio deal with strengthen its capability to produce titles, and, appeal more to Western gamers. This isn't the end of the good news for FREE, where they're set to unveil their new global gaming platform, which will integrate Openfeint, all within the next few months.

NEWS SOURCE
Thenextweb.com

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