Netmarble to acquire game company SpinX Games for $2.1 bn

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Seoul, Aug 2 (IANS) South Korean game developer Netmarble said on Monday it plans to acquire Hong-Kong based social casino game company SpinX Games in a deal estimated at $2.1 billion.

Under the plan, the South Korean company will purchase a 100 percent stake in Cayman Island-based Leonardo Interactive Holdings Ltd., which fully owns the social casino game developer.

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SpinX Games, established in 2014, operates various types of mobile casino content, including slot machine games.

The deal is expected to be completed in September, reports Yonhap news agency.

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Netmarble has been seeking to diversify its portfolio, acquiring U.S.-based game developer Kabam Inc. in a deal estimated at 1 trillion won (US$868 million) in 2016.

“On top of the mainstay role-playing game content, the company has diversified its portfolio by adding other casual gaming content. The move will bolster the company’s global competitiveness,” Lee Seung-Won, who heads Netmarble, said in a statement.

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