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Phoenix Games, an international gaming company specializing on the acquisition and enhancements of game studios is delighted to announce that it has acquired PopReach Games from Ionik, a Bengaluru-based live operations studio, for up to US$9.8M, which was financed by cash reserves. Phoenix Games, a global gaming enterprise that specializes in the acquisition and enhancement of game studios, is thrilled to announce the acquisition of PopReach Games from Ionik for a total aggregate purchase price up to US$9.8 million. The cash reserves were used to finance this transaction.
This acquisition diversifies Phoenix’s portfolio substantially by adding popular free-to-play games and globally recognized IPs on multiple platforms. These include Smurfs’ Village, Smurfs’ Magic Match, Gardens of Time and Kitchen Scramble Games, Kingdoms of Camelot and War of Nations, as well as Peak, a brain training app.
Phoenix Games has strengthened its global presence with the acquisition of PopReach Games India. The studio in India now employs more than 100 dedicated employees.
Klaas Kersting is the CEO of Phoenix Games. He says, “The acquisition by Phoenix Games of PopReach Games represents a significant enhancement to our portfolio. It brings us not only a team 100 professionals, but also a suite globally acclaimed IPs, and games, which continue to capture millions.” We look forward to taking these games to the next level with our Uplift platform, and creating exciting new gaming experiences around them.
Jairaj NS shares the same sentiment as PopReach Games India’s General Manager, Jairaj NS: “I am thrilled to join forces with Phoenix Games and their stellar team.” Phoenix will be our new home, and we are excited to begin this exciting journey. It’s great news for everyone, but especially for our millions of loyal players around the world. I’m happy that we have found the perfect home for our internationally acclaimed games. This partnership allows us to continue to pour our hearts and minds into creating unforgettable experiences and value for stakeholders and our players around the world.”
Ted Hastings is the CEO of Ionik and he adds that it’s “truly remarkable” that we have found the perfect home for PopReach Games India with Phoenix Games. This will ensure a promising future. This strategic move allows us to focus on our core responsibilities.
Phoenix Games is based in Karlsruhe, Germany. It boasts a lineup of impressive studios including Upright Games and Sixteen Tons Entertainment.
Phoenix Games, using its proprietary Uplift Platform, enhances the financial performance of acquired games studios and their reach. They also provide their expertise in ad monetization and live operations, to ensure an economic boost.
