MANILA, March 31 (PNA) — Listed consumer technology firm Xurpas Inc. has acquired a 31.52-percent stake in MatchMe Pte. Ltd., a Singapore-based mobile and web tournament games platform, for US$ 1.4 million in a bid to boost its product portfolio.
Under the terms of the agreement, Xurpas will be granted the license and right to use, integrate, publish, distribute, market and promote the MatchMe platform and its related game content.
It also gives the company exclusive rights to use MatchMe for telecommunications deployment in the Philippines, Indonesia and Thailand.
“The platform allows us to provide a unique game playing experience to consumers in the Philippines, the rest of Southeast Asia, and worldwide” said Nix Nolledo, President and Chief Executive Officer of Xurpas, in a statement to the Philippine Stock Exchange.
Nolledo identified casual games as one of the company’s biggest growth drivers.
He noted that Xurpas raised money through an initial public offering (IPO) last year to expand its product line and to significantly enlarge its distribution platform.
“These goals are now being realized. MatchMe is the fourth company we have acquired or invested in since December 2014,” he added.
MatchMe is engaged in the development, licensing and operation of a mobile and web based, real-time, multiplayer platform for mobile games. (PNA)