GREE purchases mobile social game developer Pokelabo for $173M
Japanese mobile-social gaming giant GREE announced today it will acquire mobile-social game maker Pokelabo on Oct. 30 for 13.8 billion yen ($173 million) in cash.
Founded in 2007, the Tokyo-based Pokelabo has developed several successful titles for the Japanese mobile market such as mobile-social RPG Clan Battle of Fate, and the English card-battle game Mystic Monsters. Last year, Pokelabo entered into a co-development deal with Sega to develop social games particularly for smartphones.
This is the second big mobile-social developer acquisition we’ve seen come out of Japan this month — the Tokyo-based company, mobile-social game developer Gloops was bought out by free-to-play gaming giant Nexon for 36.5 billion yen ($469 million) back on Oct. 1.
This is also the third acquisition for GREE this year. The company bought mobile-social game developer App Ant Studios (makers of its North American title Dino Life) for an undisclosed amount of sum in September, and the mid-core focused Funzio for $210 million in May.
Pokelabo, which currently has 91 employees, generated $7 million in revenue and $2 million in profit in the fiscal year that ended Sept. 2011.