Daniel Tay · · 1 min readFatfish chooses Malaysian mobile games studio AppXplore for first acquisition after IPO
Singapore-based internet ventures accelerator Fatfish Internet Group (ASX:FFG), which recently raised US$3.22 million through an IPO on the Australian Stock Exchange, has acquired Malaysian mobile games studio AppXplore, the company revealed today.
The deal sees Fatfish buy a 70 percent stake in AppXplore for a sum of MYR 700,000 (US$220,080). The acquisition is to be completed by Fatfish’s majority-owned subsidiary High Joyful International.
AppXplore is the first Malaysian studio to have one of its games featured on Apple’s App Store. The team has produced multiple mobile games that have attracted over one million downloads, such as Alien Hive, Sporos, and Lightopus.
Fatfish has thus far backed ventures like fashion ecommerce site Dressabelle, car insurance comparison service RajaPremi, and Novatap, which is the company behind visual website builder DockPHP. Fatfish Internet Group CEO Kin-Wai Lau is confident that AppXplore, which is their first acquisition since listing, will add to their top and bottom lines as well.
Editing by Steven Millward
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