Hong Kong-based mobile game developer and publisher Animoca Brands has sold its portfolio of 318 casual games to Australian mobile publisher iCandy Interactive for $3.8 million. The audience of Animoca Brands titles exceeds 325 million people.
Under the terms of the deal, iCandy paid $1.52 million in cash and shares. iCandy will also additionally pay Animoca Brands an amount of up to $2.28 million if the game’s performance reaches a certain level over the next 2 years.
Animoca will also receive a share from game sales if the annual profit of the entire portfolio turns out to be more than $ 760 thousand.
In addition, the companies plan to develop the business of casual games together in the future.
The deal will help Animoca Brands to restructure and refocus on supporting key titles and VR.
Animoca Brands produces and publishes both mobile casual games under the licenses of the Doraemon, Ben 10, Garfield and others cartoon franchises, as well as original titles.
iCandy Interactive is a publisher of mobile games in the Asia—Pacific region. The company’s offices are located in Sydney, Singapore, Koala Lumpur and Jakarta. According to the publisher’s website, the company’s titles have been downloaded more than 20 million times.
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