"Reliance Games on Monday fully acquired a Japanese mobile game distribution company, Funnel Japan, and picked up 51 per cent stake in Busan, Korea-based gaming development and publishing company Bluesom Inc," Reliance Entertainment, which owns Reliance Games, said in a statement.
"Reliance Games on Monday fully acquired a Japanese mobile game distribution company, Funnel Japan, and picked up 51 per cent stake in Busan, Korea-based gaming development and publishing company Bluesom Inc," Reliance Entertainment, which owns Reliance Games, said in a statement.
"Both the acquisitions are carried out by a new company created for this purpose, Reliance Big Entertainment Japan Co," it added. The Anil Ambani-led Reliance Group company, however, did not disclose the amounts.
The deal marks the Group's entry into the world's largest (Japan, with a market size of $5.5 billion) and the second largest mobile gaming markets (Korea, with a market size of $1.3 billion), Reliance Entertainment chief executive Manish Agarwal told PTI.
Asked about the deal size, he declined to answer, merely saying they are a privately-held company. However, company sources said the Reliance firm has paid a few million dollars "in lower single digit" for the two deals.
Reliance will be launching the first mobile game in Japan by next month and two more by June-July. It will also launch its Hollywood IP-based localised games for these markets, Mr Agarwal said.
Korean launch will take some time, he said, adding the next focus will be China and Taiwan, as the Japanese company already has presence in these markets.
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