Outblaze Ventures US$9.6M Acquisition Deal For Star Girl Games
HK-Based Outblaze Ventures (Animoca™) sells controlling interest in its Star Girl Games franchise to Hong Kong-listed Crosby Capital (8088.hk)
Outblaze Ventures Holdings Limited, also known as Animoca™, a smartphone games developer and publisher based in Hong Kong, has entered into an agreement to sell seventy percent of its interests in its subsidiary, which is the owner of the award-winning applications of the Star Girl game, to Crosby Capital Limited (Hong Kong stock code 8088) .
Outblaze Ventures will continue to service the business and collaborate to enhance the Star Girl game together with Crosby and operate as a thirty percent shareholder of the joint venture company. Crosby will bring to the partnership its China connections and broad industry expertise, with a view to creating additional value for the game in the celebrity / fashion role playing game (RPG) sector and developing opportunities in the O-2-O (Online-to-Offline) space.
The Star Girl game is a highly rated popular game enjoyed by fashion-loving girls and young women around the world, which is of the few mobile games targeting female users and users are able to purchase virtual items in-game, including a wide selection of virtual fashion apparels and accessories.
In just four years of operations under the Animoca brand, Outblaze Ventures has developed a portfolio of over 400 Apps and mobile games that have achieved more than 220 million downloads, firmly establishing the company among the top 50 mobile games developers, according to Pocket Gamer.
Mr. Kelvin Wu, Chief Executive Officer of Crosby said: “The Star Girl game is of the few mobile games targeting female users and we believe this will provide the Crosby Group with the advantage of tapping into the expanding yet under-exploited market. We also believe that the applications of the Star Girl game will have the potential to collaborate with other products which target similar end users such as toys and fashion products and have strong synergies with the existing operation of the Crosby Group for the development of an innovative online-to-offline platform.”
About Outblaze Ventures Holdings Ltd.
Outblaze Ventures Holdings Ltd. is a leading developer and publisher of mobile games and edutainment apps for global audiences under the brand “Animoca.” The company has released more than 400 apps across multiple platforms, with more than 220 million game downloads since launch in 2011. Animoca’s casual games have become wildly popular with audiences throughout the world, earning high acclaim from gamers and reviewers alike. Animoca also publishes edutainment apps under its Baby Cortex label. For more information, visit www.animoca.com.
About Crosby Capital Limited
Crosby Capital Limited is an independent asset management and strategic investment company listed on the Stock Exchange of Hong Kong. It has been investing in the internet-related sectors, including, but not limited to, O2O lifestyle and e-commerce business by way of acquisitions and collaborations. It targets to build an integrated O2O business ecology in the entertainment and lifestyle sector.