G.Labs acquisition
"Oil Empire" and "Venetians" developer picked up by German publisher bitComposer Online.
Eschborn/Frankfurt, December 20th, 2010: bitComposer Online GmbH has now acquired shares from the technology founder, the Saxony Fund (“Fonds Sachsen”) in Germany, and has purchased additional stock from existing shareholders to gain the majority shareholding in G.Labs. bitComposer Online GmbH can now exploit this controlling interest to lay firm foundations in the “online and browser games” sector. G.Labs will be headed up by Martin Richter and Wolfgang Duhr.
G.Labs was founded in 2005, but Martin Richter has been active in the online business for many years, which means that G.Labs has built up an extensive network of partners.
“Oil Empire” and “Venetians” enabled G.Labs to establish two browser games, both of which have a large following of players with the potential to attract more. Through constant upgrades and high-profile marketing, both titles will form the basis of steady and sustainable corporate growth. This will place bitComposer Online GmbH in an ideal position to develop future in-house productions and to buy in other IPs. New attractive “free-to-play products” will also follow the two games that already have a strong presence in the market.
In addition, G.Labs will work on converting third party projects with external commissioners to strengthen the company’s second business sector. It is particularly worth mentioning the expertise in PHP+ programming and various research projects in HTML5 that G.Labs can access and develop to build a solid framework in the area of forward-looking technologies.
“We are delighted to have gained bitComposer Online as a strategic partner; this gives us the opportunity to expand our games production with some thrilling IPs. We will exploit our joint skills in the off- and online games sector to the max in a booming online games market”, said Martin Richter.
“With G.Labs, bitComposer Online has seized the unique opportunity to create an important partnership with an established and first class browser games studio. Besides the potential of the previously published G.Labs titles and the extensive network of partners, we envisage important synergies in marketing and the conversion of our own and external IPs. With a committed team around the company creator, Martin Richter, together we will combine the know-how of the “old gaming economy” with the “new gaming economy”; which can only be to the advantage of both companies”, said Wolfgang Duhr.
About bitComposer Online
bitComposer Online is a subsidiary of bitComposer Games which has its head office in Eschborn. The focus of the subsidiary is to develop and market online and browser games.
bitComposer Online will concentrate on in-house productions including its own and bought-in IPs. The aim of the company is to establish appealing “free-to-play” titles in the market.