Gamevil, a mobile game publisher and developer located in the U.S. and Korea, announced that it had earmarked $10 million to invest in partnerships with external developers. The intent of the fund is to improve the company’s global reach and the quality of its games.
The first acquisitions as part of this initiative are the exclusive publishing and partial intellectual property rights of Ganawoo Choi’s Cartoon Wars mobile game series. These titles will be added to Gamevil’s existing catalog, which includes the popular Air Penguin and Zononia.
Yong Kuk Lee, chief financial officer of Gamevil, said that the expanding mobile game market made it more important than ever to partner with external developers. “By working together with these creative developers and combining Gamevil’s understanding of the global smartphone game market, we will carve out success and growth for everyone involved,” he said.
Gamevil is coming off of a strong first quarter that saw around $2.3 million in profits, with an operating profit ratio of more than 40 percent, according to Gamasutra.
Gamasutra post: http://tinyurl.com/3uqtqfg