Another news from Japan. Simultaneously with the announcement of a $100 million fund for mobile game developers, Line announced the purchase of 10% of Gumi Studio, known in the West as the developer and publisher of Brave Frontier.
The amount of the transaction was not disclosed, but, according to our colleagues from Tech In Asia, Gumi plans to launch an IPO later this year. According to preliminary estimates, the company can quite realistically achieve a capitalization of $1 billion on the stock market.
So for Line, this is a profitable investment. As for Gumi itself, a close partnership with one of the most successful social platforms in Asia will only increase its potential value in the market.
Source: http://www.bloomberg.com