Netmarble to acquire game company SpinX Games for $2.1 bn

Seoul, Aug 2 (IANS) South Korean game developer Netmarble said on Monday it plans to acquire Hong-Kong based social casino game company SpinX Games in a deal estimated at $2.1 billion.

Under the plan, the South Korean company will purchase a 100 percent stake in Cayman Island-based Leonardo Interactive Holdings Ltd., which fully owns the social casino game developer.

SpinX Games, established in 2014, operates various types of mobile casino content, including slot machine games.

The deal is expected to be completed in September, reports Yonhap news agency.

Netmarble has been seeking to diversify its portfolio, acquiring U.S.-based game developer Kabam Inc. in a deal estimated at 1 trillion won (US$868 million) in 2016.

“On top of the mainstay role-playing game content, the company has diversified its portfolio by adding other casual gaming content. The move will bolster the company’s global competitiveness,” Lee Seung-Won, who heads Netmarble, said in a statement.