PHOENIX Games Holding has acquired PopReach Games India from Ionik Corporation for approximately US$ 9.8 million, significantly enhancing its gaming portfolio and global presence.
Target Information
Phoenix Games Holding ("PHOENIX") has successfully acquired a significant global gaming portfolio, which includes all shares in PopReach Games India ("PopReach Games") from Ionik Corporation, based in Toronto, Canada. This acquisition was finalized for an approximate total of US$ 9.8 million and represents a strategic enhancement for PHOENIX, a leading industry player specializing in the acquisition and improvement of game studios. The transaction was fully funded through equity from existing cash reserves.
PopReach Games, headquartered in Bengaluru, India, operates as a live operations studio with a portfolio that features over 420 million lifetime downloads across various free-to-play games. With this acquisition, PHOENIX expands its reach and offerings by incorporating well-loved titles such as Smurf’s Village, Smurf's Magic Match, Gardens of Time, and the Brain Training app Peak, among others.
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Industry Overview in India
The gaming industry in India is experiencing rapid growth, driven by rising smartphone penetration and increasing internet accessibility. According to industry reports, the Indian gaming market is projected to reach approximatel
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Phoenix Games Holding
invested in
PopReach Games India
in 2024
in a Other deal
Disclosed details
Transaction Size: $10M