Netmarble announced that it has decided to acquire SpinX, a Hong Kong-based game developer company specializing in developing mobile social casino games. Over time, SpinX has become one of the largest companies making games for the genre, and the hefty amount for which Netmarble has acquired SpinX proves as such.
According to the details, Netmarble will acquire 100% of the shares of SpinX at $2.19 billion (appx 2.5 trillion won) to diversify its line of games and expand and strengthen its reach on a global scale. Furthermore, Netmarble’s business was already pretty strong globally with mobile games like Marvel: Future Fight, Seven Knights, The Seven Deadly Sins: Grand Cross, etc.
SpinX, established in 2014, has since become one of the most significant forces of its genre. It has been ranked third in global mobile social casino genre sales in the second quarter of 2021 with its massively popular titles such as “Cash Frenzy”, “Lotsa Slots,” and “Jackpot World.” SpinX is the fastest growing social casino game company in recent years, with sales of 497 billion won in 2020. In 2021, sales for SpinX in the first quarter reached 162.2 billion won, and as of the end-second quarter of this year, it has raked in a revenue of 328.9 billion won.
“The Social casino genre shows continued global growth, and we are very excited to execute a share purchase agreement with SpinX Games, one of the leading companies in the genre,” said Seungwon Lee, CEO of Netmarble. “Through the acquisition, Netmarble will add the Social Casino genre alongside its existing main RPG genre to further strengthen its lineup of casual games. With its diversified portfolio, we expect to fortify our competitive edge in the global mobile gaming market.”
“We are very excited to be joining the Netmarble family, one of the fastest-growing mobile game companies in the world,” said Paul Zhang, CEO of SpinX Games. “The mobile Social Casino business is a constantly evolving sector, and we plan to take the most advantage of this opportunity to strengthen global competitiveness for both companies as part of the extensive synergies with Netmarble.
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