Xurpas Acquires Stake in MatchMe
Makati—(PHStocks)—Consumer technology firm Xurpas Inc. (PSE: X) is boosting its product portfolio by taking a significant investment stake in MatchMe Pte. Ltd (MatchMe), a Singapore-based mobile and web tournament games platform.
Xurpas, having held the most successful initial public offering (IPO) in the history of the Philippines stock exchange late last year, has invested $1.4 million for a 31.52% stake in MatchMe, which is engaged in the development, licensing and operation of a mobile and web based, real-time, multiplayer platform for mobile games. The platform is also open to third-party game content integration, which means that by integrating with MatchMe, third party developers from around the globe can offer their players synchronous, real-time tournaments against friends and opponents.
Under the terms of the agreement, Xurpas will be granted the license and right to use, integrate, publish, distribute, market and promote the MatchMe platform and its related game content. It also gives Xurpas exclusive rights to use MatchMe for telco deployment in the Philippines, Indonesia and Thailand.
“MatchMe is a truly unique offering, potentially allowing millions of players to play against each other on any device, anytime, anywhere. The platform allows us to provide a unique game playing experience to consumers in the Philippines, the rest of Southeast Asia, and worldwide” said Nix Nolledo, President and CEO of Xurpas.
“We’re delighted to have such a strong and strategic partner as Xurpas onboard,” commented Hal Bame, co-CEO of MatchMe. “The shared synergies and goals between our companies ring true on a variety of levels, not the least of which is bringing entertaining and competitive experiences to mobile and web-based gamers throughout Southeast Asia and beyond.”
This means that casual gamers can play in real-time versus other people regardless of dataconnection speed. It also allows customers to duel with friends or take part in various competitive tournaments locally or on a national, regional or even global basis.
“The reason why we raised money through our IPO last year is to expand our product line and to significantly enlarge our distribution platform. These goals are now being realized. MatchMe is the fourth company we have acquired or invested in since December 2014,” added Nolledo. “Casual Games is one of Xurpas’ biggest growth drivers. As consumers move from feature phones to smart phones, new platforms like Matchme enable to us to deliver amazing experiences to the next wave of mobile gamers.”
Xurpas’ last traded price is PhP10.40 as of 27 March 2015.