New York-based mobile games and app developer Cupcake Digital has acquired Zuuka. No financial terms were disclosed. Graham Farrar and Woody Sears, founders of Zuuka, will join Cupcake Digital’s senior management staff. Headquartered in Santa Barbara, Calif., Zuuka, which is backed by CFP Investments, is a children’s media company.
NEW YORK–(BUSINESS WIRE)–Cupcake Digital, Inc., a leading developer of award-winning children’s enhanced storybook, interactive play and gaming apps, has acquired zuuka Inc., developers of the popular iStoryTime Library. This strategic acquisition effectively positions Cupcake Digital as one of the largest independent children’s app developers, with a combined app library of over 250 titles and a download base of over 8.5 million.
“The synergies that are created by bringing Cupcake and zuuka together are ideal,” said Cupcake Digital Chairman & CEO Brad Powers. “Both companies have been focused on creating top-ranked, innovative apps featuring well-known entertainment characters that kids and parents love. The acquisition expands our entertainment license portfolio and will leverage Cupcake’s proprietary technology platform, enabling us to launch new interactive apps and storybooks that give children, parents and caregivers even more choices from a brand they trust.”
Investment Manager Lukas Bennemann from venture capital group CFP Investments/venturecapital.de commented: “I loved the idea of combining zuuka and Cupcake Digital from the start. Both companies share the same spirit and vision and surely make a perfect fit. As a shareholder of this newly combined entity, CFP Group foresees a major impact on the market and looks forward to welcoming many more consumers to a great world of kids’ apps.” venturecapital.de was started in 2008 in Frankfurt/Germany and is a leading growth equity investment firm with a clear focus on technology companies in the field of software, the internet, mobile telecommunications and IT business services.
zuuka Founders Graham Farrar and Woody Sears, will hold senior management positions at Cupcake Digital, adding a combined 12 years of app building experience to the company.
About Cupcake Digital
Founded in 2012, Cupcake Digital, Inc. gives kids the opportunity to interact with the characters they love by transforming children’s entertainment properties into award-winning apps. The Company’s apps are consistently top-ranked on the Apple App Store, Amazon Appstore for Android, Google Play and the Barnes & Noble NOOK Store. Cupcake’s licensed IP portfolio includes Wow! Wow! Wubbzy!, Jim Henson’s Fraggle Rock, Strawberry Shortcake, VeggieTales, Yo Gabba Gabba!, Animal Planet, The Smurfs, Sid the Science Kid, Barney, Mike the Knight, Cloudy with a Chance of Meatballs, Puss n In Boots, How To Train Your Dragon, Madagascar, Shrek, and Kung Fu Panda.
For more information about Cupcake Digital Inc., please visit www.cupcakedigital.com.
Get your FREE trial or subscribe now to Buyouts to find new deal opportunities, super-charge your fundraising efforts and track top managers.