Lolapps, the San Francisco social games maker of Ravenwood Fair, and Hong Kong based social gamer 6waves Inc. agreed to merger, the companies announced Monday. Terms of the deal were not disclosed. LoLapps has raised $4 million in venture backing from Polaris Venture Partners and Ron Conway. 6waves raised $17.5 million with Insight Venture Partners as a backer.
LOLAPPS AND 6WAVES ANNOUNCE MERGER AGREEMENT
Combination Will Create One of the Largest Networks of Social Gaming Applications on the Web
SAN FRANCISCO, CA – JULY 18, 2011 – Lolapps, a top five social games company, and 6waves Inc., a leading international publisher of gaming applications, today announced that they have signed a definitive merger agreement creating one of the largest networks of social gaming applications on the web.
The two companies attract more than 35M MAU globally. Additionally, the move expands the combined companies internationally, extending the global footprint and focus of each, with offices in the United States, Japan, Hong Kong, and the United Kingdom.
“The coming together of two of the social gaming industry’s leaders made a lot of sense given our complementary strengths and aligned vision,” said Arjun Sethi, CEO of Lolapps. “6waves is a leading international publisher of social games and Lolapps is a top social games developer. Both companies have a very strong user base and share the pledge of delivering to them the best possible social gaming experience.”
Each company’s users will find exciting improvements in thanks to this strategic alliance. Users will have access to a larger catalogue of games, more engaged content, and more opportunity for interaction with other users. 6waves and Lolapps are both committed to delivering quality products, and this alignment will allow customers to consume the highest quality content available on Facebook and other popular social networks.
Developers within the network will also benefit from the combined entity. Publishing partners will have access to an expanded base of users who already love to play games, as well as access to new platform services and capabilities. Partners of 6waves will now also be able to utilize the Fliso Engine, the industry-acknowledged highest performance engine for running isometric Flash games.
“The combination of Lolapps and 6waves creates instant value for our users and will be especially attractive to development partners within our network,” said Rex Ng, CEO of 6waves. “Through this merger we are able to closely understand the needs of game developers – who will also have access to the technology that will be distributed through our relationship – which will further improve our publishing platform.”
Mr. Ng will serve as the new CEO with Mr. Sethi reporting to him. The newly constructed six-member executive team will include three members of 6waves, including Mr. Ng, and three members of Lolapps, including Mr. Sethi. Following today’s merger agreement, the combined company will be branded as 6waves Lolapps and will retain offices in the United States, Japan, Hong Kong, and the UK. 6waves and Lolapps, which have both been profitable to date, will continue to function independently to focus on game publishing and game development, respectively.
6waves, a venture-backed company is the leading international publisher and developer of gaming applications on social network platforms including Facebook and Yabage (Japan). It aims to publish the next generation of social games to cover every genre, language, and platform. 6waves aims to scour the Earth, and bring the most fun and exciting games to your local social network in the language you speak. For more information, please visit http://www.6waves.com
Founded in 2008, Lolapps is a social games and technology company venture backed by Polaris Venture Partners and Ron Conway. Creator of the hugely successful Ravenwood Fair, Lolapps has over 25 million monthly active users across multiple social networks, including Facebook. The Lolapps Fliso Engine, recently acquired from Sean Cooper Games, is the industry-acknowledged highest performance engine for running isometric Flash games. Available for licensing, the engine is already being utilized by four out of the top five social games developers. Everything Lolapps does is geared towards bringing consumers the highest quality social gaming experience. For more information, please visit http://www.lolapps.com and http://www.lolapps.com/fliso