RealNetworks Buys Canadian Social Gaming Company Backstage Technologies
RealNetworks, Inc. (NASDAQ:RNWK) has bought out Canadian social gaming company Backstage Technologies. The deal will add valuable game engineering and monetize expertise to RealNetworks’ gaming unit GameHouse according to the company.
“As we transform RealNetworks, we will focus on areas with strong revenue growth and profit potential that will realize the value of our core businesses,” stated RealNetworks CEO Bob Kimball. “The most compelling growth opportunity in games today is social games, and this acquisition is part of our commitment to make our entire GameHouse business social.”
BackStage Technologies is well known for creating the Family Feud application game on Facebook. RealNetworks’ GameHouse division applications work with about 60 million active users per month. The company will continue to operate in Victoria, B.C. Canada.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry