Cedarhurst, NY-based Pocket Games (OTC PINK: PKGM) completed the acquisition of Viximo, a Boston, Massachusetts-based social games platform, for $3.5 million in preferred stock.
The deal will allow Pocket Games to add a distribution channel to its development and testing services.
Founded in 2008 and led by Michael Pope, President, in Viximo connects game developers to sales channels in difficult to reach markets through its platform. Once onboarded to the Viximo platform, social mobile games can be deployed across several stores worldwide, providing expanded user reach to game developers in the West. The company’s toolset also enables developers to increase user engagement and monetization as well as offering localization options.
Viximo generates revenues by taking a percentage of in-app purchases of the titles it distributes as well as through in-game advertising and an increased revenue share model with ‘Premium Partners’ by offering value-ad services such as increased discovery and deep analytics.
The company has received venture capital funding from Northbridge Venture Partners and Sigma Partners.
Led by David Lovatt, Chief Executive Officer, Pocket Games is a video game development and testing company focused on full-spectrum game testing and the acquisition and growth of innovative IP in the video game space. It had recently acquired Idol Hands and opened offices in Pune, India.
FinSMEs
11/02/2016