Pocket Games acquired Viximo, a social games platform, for $3.5 million. Founded in 2008, Viximo received funding from Northbridge Venture Partners and Sigma Partners.
NEW YORK, NY–(Marketwired – Feb 9, 2016) – Pocket Games (OTC PINK: PKGM), a new force in social gaming, has completed its previously announced acquisition of Viximo, a social games platform, for $3.5 million in preferred stock.
Viximo connects game developers to sales channels in difficult to reach markets through its write once, deploy everywhere platform. Once onboarded to the Viximo platform, social mobile games can be deployed across several stores worldwide, providing vastly expanded user reach to game developers in the West. The Viximo toolset also enables developers to increase user engagement and monetization as well as offering localization options. These markets account for over 70% of global app-store market spend annually.
“The Viximo platform is a key acquisition that allows us to target the massive social mobile gaming community,” said David Lovatt, Chief Executive Officer at Pocket Games. “We have engaged our development resources and testing center to further develop the Viximo Platform and we look forward to announcing app-store partners in key markets coming months. Our next priority to secure the right distribution channels in these markets.”
Viximo was founded in 2008 in Boston, Massachusetts and received venture capital funding from Northbridge Venture Partners and Sigma Partners. The company 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 social gaming industry continues to grow at double digit CAGR, and we expect it to reach an astounding $20 billion by 2020,” said Michael Pope, President at Viximo. “David Lovatt and the Pocket Games team recognize the opportunity and have the talent and resources to emerge as a significant player. The industry has seen rapid change since I first played Farmville in 2009. Today’s social gamers demand sophisticated and engaging experiences with access across multiple devices in both the desktop and mobile sphere. Game developers are responding with amazing speed. However, there is still a massive distribution need, especially from developers seeking access to the lucrative Japanese, India, China, Russia and South American Markets. Under David’s leadership, the Viximo platform can become the leading distribution partner, providing accelerated global reach to today’s game developers.”
Viximo empowers social networks and game developers to capitalize on social application and gaming opportunities through its “write once, deploy everywhere” social gaming platform. Viximo’s platform is complete with social tools, multiple payment options, one click purchasing and a robust virtual currency system. We offer game developers access to our partner base of social networks. The company provides social networks access to premium games and social tools that increase user engagement and monetization. Learn more at www.viximo.com.
About Pocket Games, Inc.
Pocket Games, Inc. (OTC PINK: PKGM) is a growing partner to the video game development market offering development and testing services out of its purpose designed offices in Pune, India as well as now offering a unique distribution channel through the recently acquired Viximo platform. The Company continues to execute its expansion into the burgeoning video game industry in pursuit of innovative revenue streams. Learn more at www.pocketgamesinc.com.
This press release may contain forward-looking statements, including information about management’s view of Pocket Games, Inc.’s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words “believes,” “expects,” “intends,” “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of Pocket Games, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on Pocket Games’ future results. The forward-looking statements included in this press release are made only as of the date hereof. Pocket Games cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Pocket Games undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by Pocket Games.
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