MANILA, Philippines - Consumer technology firm Xurpas Inc. continues its acquisition spree with the $1.4-million purchase of a significant stake in a Singapore-based mobile and web tournament games platform.
Xurpas acquired a 31.52-percent interest in MatchMe, a gaming company engaged in the development, licensing and operation of a mobile and web based multiplayer platform for mobile games.
Under the terms of the agreement, Xurpas would be granted the license and right to use, integrate, publish, distribute, market and promote the MatchMe platform and its related game content.
It also gives Xurpas exclusive rights to use MatchMe for telco deployment in the Philippines, Indonesia and Thailand, the listed company said.
“MatchMe is a truly unique offering, potentially allowing millions of players to play against each other on any device, anytime, anywhere. The platform allows us to provide a unique game playing experience to consumers in the Philippines, the rest of Southeast Asia, and worldwide” said Nix Nolledo president and chief executive officer of Xurpas.
“We’re delighted to have such a strong and strategic partner as Xurpas onboard. The shared synergies and goals between our companies ring true on a variety of levels, not the least of which is bringing entertaining and competitive experiences to mobile and web-based gamers throughout Southeast Asia and beyond,” added Hal Bame, co-CEO of MatchMe.
MatchMe is the fourth company that Xurpas has invested in since its initial public offering (IPO) in December last year.
The consumer technology firm announced last week its entry into the Indonesian market with the acquisition of a 49 percent stake in IT firm PT Sembilan Digital Investama for $250,000.
Xurpas has also acquired a 21.78- percent stake in Singapore IT company Altitude Games PTE Ltd. and a 51 percent controlling stake in Storm Flex Systems, Inc. for $740,800 and $4.3 million, respectively.
“The reason why we raised money through our IPO last year is to expand our product line and to significantly enlarge our distribution platform. These goals are now being realized. MatchMe is the fourth company we have acquired or invested in since December 2014,” Nolledo said.
“Casual Games is one of Xurpas’ biggest growth drivers. As consumers move from feature phones to smart phones, new platforms like Matchme enable to us to deliver amazing experiences to the next wave of mobile gamers,” he added.