Telecommunications firm KDDI has acquired a majority stake in AppBroadcast, a Japan-based mobile gaming media company that is also one of its portfolio companies, TheBridge reported on Tuesday.
KDDI made the investment through its advertising and media services subsidiary, Mediba. The size of the investment or the stake acquired by Mediba through the deal were not disclosed, though some media reports have suggested the price was around the ¥1bn ($9m) mark.
AppBroadcast is the owner of GameGift, an app-based service launched in 2013 that offers gamers virtual items, news and tips on popular mobile games; game beta testing platform Sakipre; and Hayatoku, a service that lets users register for early downloads of new games.
The company received an undisclosed amount of funding in early 2014 from investors including KDDI Open Innovation Fund, the early-stage venture fund jointly managed by KDDI and investment firm Global Brain.