31 Oct 2011 07:00
31 October 2011
Origo Partners PLC
Investee Company Update - Smarton 5 acquired by 6waves Lolapps
Origo Partners Plc ("Origo") is pleased to announce the acquisition today of Smarton5 ("S5"), an Origo portfolio company, by 6waves Lolapps ("6waves"), a leading global social and mobile game developer and publisher with significant venture capital backing. The terms of the transaction were not disclosed, but Origo will retain an equity stake in the combined company.
S5, in which Origo held an 36 per cent equity stake, is a Beijing-based social gaming company focused on developing high quality social games with deeper game play experiences for Asian and international social networks.
6waves, a leading global social and mobile game developer and publisher, announced its acquisition of S5 today at TechCrunch Disrupt Beijing. 6waves is the leading international publisher of gaming applications on the Facebook platform and has over 40 million monthly active players playing its games and using its applications.
The acquisition marks 6waves' continued expansion into the Asian market adding Beijing to 6waves' growing list of global offices which includes Hong Kong, Tokyo, London and San Francisco. The combined company will employ more than 75 people in Asia and more than 170 worldwide.
S5's CEO, Gage Galinger will become 6waves' Vice President of Content Development and will head up operations in China. Galinger previously worked for companies including Electronic Arts, Enorbus, Microsoft and Blizzard. The S5 team will be immediately integrated into 6waves' global presence and will be focused on product development for the local social and mobile market.
Commenting on today's announcement, Chris Rynning, the CEO of Origo, said:
"We are pleased that S5 has completed this value accretive transaction with 6waves. The combination of 6waves's global presence and S5's experience and relationships in the Chinese gaming market puts the enlarged company in a very strong position to compete with the leading firms in the industry."
For further information about Origo please visit www.origoplc.com or contact:
Origo Partners plc Chris Rynning Niklas Ponnert |
chris@origoplc.com niklas@origoplc.com
|
Nominated Adviser and Broker: Liberum Capital Limited Simon Atkinson / Richard Bootle
| +44 (0)20 3100 2222 |
Public Relations: Aura Financial Andy Mills / Nina Legge | +44 (0)20 7321 0000 |
Notes to editors:
Origo Partners:
·; Origo is an AIM-listed private equity investor and strategic consultancy business which provides its shareholders with exposure to China-linked investment opportunities.
·; Based in Beijing, Origo has a significant portfolio of investments in a range of industrial sectors, including metals and mining, agriculture, renewable energy/clean tech and technology, telecom and media.
·; Origo invests directly in high growth Chinese companies as well as in companies based around the world with significant exposure to Chinese export markets.
·; Origo has a wholly-owned Mongolian subsidiary in Ulaanbaatar, providing corporate finance and advisory services to local investee and non-investee companies seeking to raise development funds and to assist portfolio companies in their development.