Filipino-founded tech startup Xurpas Inc, announced on Tuesday that it was taking a $1.4 million (P62.5 million) investment stake in the Singapore-based mobile and web tournament games platform MatchMe Pte Ltd.
The deal secured Xurpas a 31.52 per cent stake in MatchMe, which is engaged in the development, licensing and operation of a mobile and web based, real-time, multiplayer platform for mobile games.
MatchMe is the fourth company to be acquired by Xurpas since its debut on the Philippine Stock Exchange. Xurpas is the first listed startup in the country.
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Xurpas disclosed the investment will further boost the company’s product portfolio as it will be grant the license and right to use, integrate, publish, distribute, market and promote the MatchMe platform and its related game content.
It also gives Xurpas exclusive rights to use MatchMe for telco deployment in the Philippines, Indonesia and Thailand.
Xurpas president and CEO Nix Nolledo said MatchMe has unique offering, potentially allowing millions of players to play against each other on any device, anytime, anywhere, regardless of data – connection speed.
“The platform allows us to provide a unique game playing experience to consumers in the Philippines, the rest of Southeast Asia, and worldwide,” Nolledo noted.
MatchMe co-CEO Hal Bame said that Xurpas was a strategic partner, with mutual business objectives.
“The shared synergies and goals between our companies ring true on a variety of levels, not the least of which is bringing entertaining and competitive experiences to mobile and web-based gamers throughout Southeast Asia and beyond,” Bame said.
According to Nolledo, Xurpas’ goals to have an expanded product line and larger distribution platform when it raised $30.4 million in its initial public offering last December are now being realized.
“Casual Games is one of Xurpas’ biggest growth drivers,” Nolledo said. “As consumers move from feature phones to smart phones, new platforms like MatchMe enables us to deliver amazing experiences to the next wave of mobile gamers.”
Xurpas’ last traded price remained at P10.20 since yesterday.
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