Corporate-backed Hong Kong-based social gaming publisher 6waves Lolapps acquired China-based social gaming company Smartron5 on Friday for an undisclosed amount. Smartron5 had previously been backed by private equity firm Origo Partners.
Game publisher 6Waves and game developer Lolapps merged in July creating the new company, though the two continue to also operate independently. After the merger, 6waves Lolapps received financing from online gaming company Nexon in August.
Prior to the merger, 6Waves had raised $17.5m in funding from venture capital (VC) firm Insight Venture Partners. Lolapps had raised at least $3.5m from investors including VC firms Polaris Venture Partners.
Rex Ng, chief executive officer of 6waves Lolapps, said: "The Asian market is complex and the Smartron5 team brings western production values with a deep understanding of how to be successful in China. This addition to our team is key to our globalization strategy and will benefit our own game development efforts as well as those of our publishing partners."
The acquisition takes 6waves Lolapps’ Asian staff to 75, spread over offices in Beijing, Hong Kong and Tokyo.