- More Chinese Startups Are Moving to Second-tier CitiesPosted 8 days ago
- Meitu Kiss Phone Released. Will Meitu Be Another Xiaomi?Posted 8 days ago
- [Updated]Mobile QQ Users Are Angry With the New Version’s Becoming A WeChat KnockoffPosted 8 days ago
- Sogou CEO Admitted Talks with Qihoo on Potential InvestmentPosted 11 days ago
- Taobao Turns Ten Today: A Look BackPosted 13 days ago
Ourpalm Acquires Web Game Developer Dovo
Mobile game developr and operator Ourpalm recently acquired China’s southernmost Hainan province-based Dovo Technology. Inc, a popular web game developer. The deal was made via RMB 810 million in a combination of cash and stock.
Ourpalm will be consolidating their titles and integrate marketing channels.
In the context of soaring web game market, Ourpalm has to stretch its tentacles to other areas of game market. The company gained a strong foothold in mobile game, but apparently lags behind in terms of web game. The acquisition would enable Ourpalm’s quick access to web game market, which has been showing a peachy track record of strong growth.
According to Ourpalm, web game sector generated 22.66 million yuan in 2011 while In the first half of 2012 the figure reached 14.82 million. Established in 2002, Dovo Technology is a long-established web game developer with a line-up of famous game titles. By the end of 2012, 6 of its games saw more than 50 million yuan in monthly turnover.
The buyout would enable the emergence of a new gaming behemoth in China, largely strengthening the new company’s bargaining power to lower its cost. Interestingly, Chinese media juggernaut Huayi Bros. Media Group held 22% of Ourpalm’s share since 2010, becoming Ourpalm’s second largest shareholder. The three brothers had already joined their hands to release a movie in 2013 and a spin-off game would be exclusively launched by Dovo Technology as well.
Image credit: Ourpalm.com
You may also Read: