Mail.Ru, one of Russia's largest internet companies, has acquired 100 percent of compatriot mobile studio, Pixonic, for $30 million.
Mail.Ru, one of Russia's largest internet companies, has acquired 100 percent of compatriot mobile studio Pixonic for $30 million.
The all-cash deal will see Mail.Ru pay $20 million upfront, before handing over another $10 million when certain performance goals are met.
Pixonic caught the eye of Mail.Ru after its hit mobile strategy title War Robots passed 20 million installs in just three months.
The game is currently pulling in 500,000 daily users, and according to Mail.Ru is performing well in the U.S., Japan, China, Korea, Germany, and Russia.
"There is a clear strategic fit here and we look forward to working together to strengthen our international mobile games development and publishing and take the company’s games to even further success," explained Mail.Ru CEO, Dmitry Grishin.
The acquisition will be completed when Mail.Ru fully consolidates Pixonic at the beginning of Q4, 2016.
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