Netmarble to acquire SpinX Games for $2.19bn
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Mobile game publisher Netmarble announced that it will acquire mobile casino game developer SpinX Games.
Netmarble will purchase 100% of the company's shares for $2.19 billion as the publisher aims to add a new genre to its catalog.
"The social casino genre shows continued global growth, and we are very excited to execute a share purchase agreement with SpinX Games, one of the leading companies in the genre," said CEO of Netmarble Seungwon Lee.
"Through the acquisition, Netmarble will add the social casino genre alongside its existing main genre of RPG to further strengthen its lineup of casual games. With this diversified portfolio, we expect to fortify our competitive edge in the global mobile gaming market."
Founded in 2014, SpinX Games has developed titles such as Cash Frenzy, Lotsa Slots and Jackpot World, which offer numerous casino games and in-app purchases, but not real-money gambling.
Earlier this year, Netmarble reported that it doubled its full-year profits for 2020 and that it had acquired sports game developer Kung Fu Factory.