Xurpas invests $1.4m for 31.5% stake in Singapore’s MatchMe

Visual from the Xurpas website

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.

Also read: Xurpas acquires Indonesian tech firm SDI

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.

Related stories:

PH startup Xurpas acquires second tech firm Storm Flex Sys for $4.3m

PH co Xurpas acquires Altitude Games for $740k

Xurpas lowers IPO price, to raise $30.4m

Investors warm up to Xurpas, shares up 50% on opening day

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.