Mail.Ru acquires controlling share of mobile developer Bit.Games
"[Bit.Games] is one of the most talented studios in the industry," says Mail.Ru head of gaming
Russian tech giant Mail.Ru has acquired a majority stake in mobile games studio Bit.Games.
The deal, worth an undisclosed amount, leaves Mail.Ru with a 51 per cent share of the Russian developer.
Bit.Games has enjoyed considerable growth over the last year, with its latest game Guild of Heroes reaching seven million installs and a monthly revenue of $1 million.
The developer will continue to work independently with analytics and marketing support from Mail.Ru.
"We are pleased that Bit.Games has joined the Mail.Ru group," said Mail.Ru head of gaming Vasily Maguryan. "This is one of the most talented studios in the industry, and I am convinced that our co-operation will enrich the experience.
"We, in turn, will give the Bit.Games team access to all our resources in order to speed up the development of their projects in Russia and abroad."
Founded in 2002, Bit.Games began life working for hire on web service contracts before starting to develop its own games five years later. The company now employs more than 70 staff and its portfolio includes games such as Treasure Diving, Cinderella Story Little Helper.
"Partnership with Mail.Ru Group will allow Bit.Games to enter a new level of interaction with players in the mobile games development market," said studio general director Vladimir Rozov.
"In this transaction, we see for ourselves not only new prospects for the development of our flagship - the Guild of Heroes, but also broader horizons for the implementation of new projects."