18 Aug YuuZoo Buys Key Assets From Leading Chinese Mobile Game Developer With Over 26 Million Users and Chinese Number 1 Mobile Game
- YuuZoo Corp has purchased 11 top-selling Chinese mobile games from Camigo Media LLC including the MeWantBamboo franchise, which reached the number 1 position in China in the iOS appstore
- The acquisition gives YuuZoo access to more than 26 million new registered users, the Camigo brand, and distribution and payment relationships with China Mobile, China Unicom, China Telecom, DoMob, LiMei and AliPay
Singapore, 18th August, 2015: Singapore-listed YuuZoo Corporation (“YuuZoo” SGX: AFC), a leading global third generation social e-commerce company, is pleased to announce that it has acquired the key assets of Camigo Media LLC (“Camigo”), a leading mobile game developer based in Shanghai, China, including user data for over 26 million users, 11 leading mobile games and the Camigo brand.
Camigo is a leading developer and distributor of mobile games in the world’s largest market – China. The company was started in 2010 by three partners, including Chinese superstar singer and actor Wilber Pan, whose awards include Most Popular Male Artist, Best Asian Singer, and Best Leading Actor in a Television Series. During five years of operations, Camigo has built a user base of over 26 million users, with 60% of all downloads from China.
The Average Revenue Per Paying User (ARPPU) for games in China reached 32.36 US$ in Q1/2014, with the Chinese US$ 3B games market about to overtake the US market, according to research company Superdata.
Three of Camigo’s mobile games have reached the number one position in the iOS Appstore in China, and reached 5.4 million monthly active users. Camigo’s bestselling game is MeWantBamboo, which in addition to iOS also is available on several Android Appstores in China. The game reached over 1 million downloads in the week of its launch. YuuZoo has acquired the entire MeWantBamboo franchise, which includes 4 launched games, with a total userbase of over 19 million, and one brand new game under development.
The Camigo games acquired by YuuZoo also include seven educational games targeted at young children. These games, which teach mathematics and reading, will be integrated into the YuuKids platform, which YuuZoo plans to launch in China in 2015. YuuZoo will also benefit from Camigo’s distribution and payment relationships that include China Mobile, China Unicom, China Telecom, DoMob, LiMei and AliPay.
The full payment will be made in YuuZoo shares in accordance with the Company’s share issue mandate granted at the Company’s 29 May 2015 AGM. At the time of this announcement the shares used for the payment represent less than one half of 1% of the issued shares of YuuZoo Corporation.
Says YuuZoo Chairman & CEO Thomas Zilliacus: “The acquisition of Camigo’s games, users and partnerships add significant value to YuuZoo in many ways. Games are a key revenue generator in social networking worldwide. Games provide major stickiness to social media. YuuZoo has recently launched a new gamified e-commerce experience, where consumers can earn discounts from playing mobile games. In addition to further developing the now acquired games and growing the both the registered and active user base, YuuZoo will be able to market its new gamified social e-commerce platform to the now acquired user base of over 26 million. The founders of Camigo, have built a hugely successful game franchise in China. The brands, users and network in China hold significant value in a market where ARPPU for mobile games has reached 32.36 US$ and where YuuZoo is growing rapidly”, he concluded.
Headquartered in Shanghai, China, Camigo is a leading developer and distributor of mobile games in China. The company has built three games that have reached the number 1 position in the China iOS Appstore. Titles acquired by YuuZoo include MeWantBamboo I and II, CandyCount and CandyCount Advanced, Where Do I Go? And Where Do I Go? Advanced.
Headquartered in Singapore and listed on the SGX mainboard (SGX: AFC), with access before the Camigo acquisition to over 90 million registered users in 164 countries, YuuZoo uniquely combines social networking, e-commerce and games in a mobile-optimized, fully localized virtual shopping mall, where the consumer can access hundreds of targeted social networks, targeted shops and targeted entertainment through one single login. All networks are localized for each market as comes to language as well as merchandise and design. To see the networks, log into: www.yuuzoo.com. For more information about YuuZoo, please log on to: www.yuucorp.com
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Macquarie Capital (Singapore) Pte. Limited (“Macquarie”) was the financial adviser to W Corporation Limited (now known as YuuZoo Corporation Limited) in relation to the acquisition of the entire issued and paid-up share capital of YuuZoo Corporation and its subsidiaries.