Global gaming company My.Games, have acquired hypercasual games developer and publisher Mamboo Games in a deal worth over $2 million.
As part of the deal, My.Games will pay an additional amount depending on Mamboo Games’ business performance. The acquisition follows after My.Games secured a minority stake in Mamboo Games for an unknown amount last year. This buyout makes My.Games the majority shareholder of the studio.
“In October 2020, we invested in Mamboo Games, and during this time, the team has performed well, releasing a new commercially successful release every month. There is a symbiosis between MY. GAMES’ expertise in mid-core games and Mamboo Games’ expertise which allows us to create successful projects in the hybrid casual genre,” said Vasily Maguryan, CEO of MY.GAMES. “We clearly understand how it is important to have flexibility and mobility today in the hypercasual market and will effectively scale Mamboo’s business and provide them with all the advantages and resources of an MY. GAMES’ open partner environment.”
Based in Minsk, Belarus, Mamboo Games first ventured into the games industry as a hypercasual game publisher in 2010. Since then, the studio has expanded its portfolio and currently has over 30 projects.
The studios’ portfolio of hypercasual and hybrid casual games include Billion Builders, Shift Race, Space Rover: Space Taikon, Scary Pranks: Horror Puzzle Survival, Shift Princess: Fairies and Princesses, and Viking Life: Wild North.
“We see how hypercasual games are in demand among the audience – in 2020, the hypercasual games market grew by 104% and reached $3 billion, and we will continue to develop and expand in this segment and offer new solutions. MY.GAMES has huge expertise and a diversified portfolio across their thirteen studios, and we have already launched several joint projects by working with some of them. We are confident that our partnership will allow us to realize our potential and give users new, globally successful hits,” said Ivan Leshkevich, CEO of Mamboo Games.
Mamboo Games’ biggest hit game to date is the 3D racing game, Shift Race. The game reached 15 million installs after its first three months of release. Billion Builders is another successful project of Mamboo, which managed to break into the top 10 in China and top 50 in the US on the iOS platform.
My.Games is the video-gaming division of the Russian internet giant Mail.ru. The studio has been one of their most successful divisions and represents 38% of Mail.ru’s revenue at $562 million in 2020 alone.
Though the studio mostly focuses on PC games, the company has shifted its focus on hypercasual titles, with $10 million invested last year in firms such as Espresso Publishing.
Don’t forget to share this post
