Australian mobile game publisher iCandy Interactive has acquired a majority stake in Singapore-based gaming startup Storms for an undisclosed sum.
According to the agreement, Storms will keep its employees and carry on as usual, whereas iCandy plans to integrate new technology for users. Furthermore, Storms’ management team will join the current iCandy team.
“We recognize many synergies between Storms and iCandy, with Storms making a great complementary addition to iCandy’s horizontally-integrated gaming business model,” said Storms CEO David Yin. “At the same time, this acquisition strengthens Storms’ ability to be a trailblazer in delivering more fun to the gaming community through efficient game development time and at scale.”
Storms shareholders may sell the remaining 49 percent stake to iCandy within an “agreed period of time.”
Storms was formed in 2020 by Singtel, Advanced Info Services (AIS), and SK Telecom to provide mobile games development and publishing services. Storms primarily focused on developing casual and hypercasual titles.
Last year, Storms collaborated with a French hypercasual publisher, Voodoo, to develop hypercasual, social, and instant-play titles for mobile.
Singtel Group CCO and chairman of Storm’s board Lim Cheng Cheng commented: “We are looking forward to partnering with iCandy as it develops its metaverse gaming ambition. This will further our collective strategy to better serve our respective customers with unique and engaging content.”
Following the partnership, Voodoo published Storms’ debut hypercasual game, AZ Run. The title was downloaded well over 10 million times on iOS and Android in less than a year after its release.
In related news, Tilting Point has purchased a controlling interest in South Korean mobile games firm AN Games, best known for AstroKings.
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