Interested in learning what's next for the gaming industry? Join gaming executives to discuss emerging parts of the industry this October at GamesBeat Summit Next. Register today.
Japanese mobile social network Gree has acquired Funzio, a fast-growing maker of hardcore mobile and social games, for $210 million.
Funzio has the rare distinction of having three games that have all garnered big audiences. Over the weekend, as we noted in our story earlier today, Funzio’s three games were all in the top 25 grossing apps on Apple’s AppStore.
Gree is a billion-dollar-plus company in Japan with more than 50 million users who play games on its mobile social network. It is in the midst of expanding into the U.S. market and plans to launch its platform in the second quarter.
Funzio calls its titles “mid-core” games that are hardcore in terms of subject matter but can appeal to a wider audience that plays for a shorter period of time. The company’s three hit games are Crime City, Modern War, and Kingdom Age. Kingdom Age got more than 1 million users in its first five days on the App Store.
Ken Chiu, chief executive of Funzio, and Anil Dharni, chief operating officer, will join Gree as senior vice presidents. Funzio executives Ram Gudavalli and Andy Keidel will join Gree as vice presidents.
GamesBeat's creed when covering the game industry is "where passion meets business." What does this mean? We want to tell you how the news matters to you -- not just as a decision-maker at a game studio, but also as a fan of games. Whether you read our articles, listen to our podcasts, or watch our videos, GamesBeat will help you learn about the industry and enjoy engaging with it. Discover our Briefings.