The free-to-play games publisher, Kabam recently announced that it has acquired Phoenix Age. The development company has had a significant amount of success with its hit iOS title Castle Age and Underworld Empire; both games are also available on Facebook.
Kabam has accumulated $125 million in venture funding and is attempting to diversify their company through the purchase of Phoenix Age. The deal will provide them with a wider variety of franchises, skilled app developers, and more role-playing games which the studio is most known for.
In a statement Kabam Coo, Kent Wakeford, said “Phoneix Age’s hit games and world-class talent further solidify Kabam’s leadership role in the free-to-play games space while expanding Kabam into new genres.”
Launched in 2009, social and mobile game developer Phoenix Age, created Castle Age. The game became a smash with more than 15 million players
Social and mobile game developer, Phoenix Age launched in 2009. Their first successful game Castle Age gained over 20 million users and continues to be popular on Facebook as well as the on the iOS platform. In the role-playing game players battle legendary monsters as they explore a world of magic alongside their friends. The studio’s second game, Underworld Empire became a instant hit upon release dominating the app charts for months. Although an RPG too, it took players deep into a modern city plagued with crime where heroes and honor is almost non-existent. Phoenix Age currently has a third game in development.
“We couldn’t be more excited about joining Kabam,” said the co-founder of Phoenix Age, Edwin Shew. “Becoming part of their team instantly gives us the expertise, experience and infrastructure to scale our games to a global level we couldn’t achieve independently.”
For Phoenix Age, consolidation with a bigger company is an obvious route to helping it scale (it appears to have been bootstrapped up to now): “We couldn’t be more excited about joining Kabam,” said Edwin Shew, co-founder of Phoenix Age, in a statement. “Becoming part of their team instantly gives us the expertise, experience and infrastructure to scale our games to a global level we couldn’t achieve independently.”
The exact terms of the deal were not disclosed. Kabam coined the deal as it’s “first acquisition in 2014,” leading to speculations that the company will be scouting for more studios to venture with in the coming months.