GREE Acquires Pokelabo For $173 Million
GREE has acquired Pokelabo for $173 million in an all-cash deal. One of Pokelabo’s largest investors is venture capital company DCM. DCM had a 20% ownership in Pokelabo. Sega also made a strategic investment in Pokelabo with a 19% stake.
Pokelabo started five years ago and has released games like Sangoku Infinity and Clan Battle of Fate. These games have done well on the Japan app store rankings with the top 10 placements on iOS and Google Play. Pokelabo released a card battle game called Mystic Monsters, which helps GREE compete with DeNA’s popular game Rage of Bahamut.
GREE has been on an acquisition binge. GREE recently acquired U.S. mobile social game developer company Funzio for $210 million. GREE’s market cap is $4.1 billion and they earned a net income of $154 million on revenues of $502 million in the last quarter. Zynga looks like a kid when compared to GREE.@amitchowdhry or on Google+ at +AmitChowdhry