NEW YORK, NY--(Marketwired - Feb 9, 2016) - Pocket Games (OTC PINK: PKGM), a new force in social gaming, has completed its previously announced acquisition of Viximo, a social games platform, for $3.5 million in preferred stock.
Viximo connects game developers to sales channels in difficult to reach markets through its write once, deploy everywhere platform. Once onboarded to the Viximo platform, social mobile games can be deployed across several stores worldwide, providing vastly expanded user reach to game developers in the West. The Viximo toolset also enables developers to increase user engagement and monetization as well as offering localization options. These markets account for over 70% of global app-store market spend annually.
"The Viximo platform is a key acquisition that allows us to target the massive social mobile gaming community," said David Lovatt, Chief Executive Officer at Pocket Games. "We have engaged our development resources and testing center to further develop the Viximo Platform and we look forward to announcing app-store partners in key markets coming months. Our next priority to secure the right distribution channels in these markets."
Viximo was founded in 2008 in Boston, Massachusetts and received venture capital funding from Northbridge Venture Partners and Sigma Partners. The company generates revenues by taking a percentage of in-app purchases of the titles it distributes as well as through in-game advertising and an increased revenue share model with 'Premium Partners' by offering value-ad services such as increased discovery and deep analytics.
"The social gaming industry continues to grow at double digit CAGR, and we expect it to reach an astounding $20 billion by 2020," said Michael Pope, President at Viximo. "David Lovatt and the Pocket Games team recognize the opportunity and have the talent and resources to emerge as a significant player. The industry has seen rapid change since I first played Farmville in 2009. Today's social gamers demand sophisticated and engaging experiences with access across multiple devices in both the desktop and mobile sphere. Game developers are responding with amazing speed. However, there is still a massive distribution need, especially from developers seeking access to the lucrative Japanese, India, China, Russia and South American Markets. Under David's leadership, the Viximo platform can become the leading distribution partner, providing accelerated global reach to today's game develop
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