Chinese web gaming outfit Forgames makes a strategic minority investment in Animoca
Pair look to other's expertise to expand globally
Mobile publisher Animoca has received what it calls a "strategic minority investment" from Forgame.
It's a Chinese web gaming outfit, which did its own VC funding round with TA Associates, Ignition Capital Partners and Qiming Venture Partners in July 2012.
Terms were not disclosed and the investment was made into Appionics, Animoca's holding company.Two to tango
Based in Hong Kong, but focused on western Android and iOS market, Animoca's more than 300 free-to-play games and apps have reached over 130 million unique players.
During February 2013, the company - one of PocketGamer.biz's Top 50 Mobile Developers of 2013 - hosted 158 million sessions. Key titles include the Pretty Pet series, Star Girl, Robo5 and Thor: Lord of Storms.
The deal will see Animoca working with Forgame to build up an audience of players in China.
"We are excited about the opportunity to work closely with Forgame, both in China and overseas markets, as we expand Animoca's portfolio into new gaming categories" said David Kim, Animoca's CEO.
"Mobile games and overseas markets are two important strategic directions of Forgame's future development," added Kevin Wang, Forgame's CEO.
"Animoca is our ideal partner as it has rich experience in publishing mobile apps in overseas markets such as the US, the European countries, Korea, Japan and most of Asia."