Rumor: Ultrapower to Acquire Camel Games
GameLook, 8/12/13
According to an industry source, Beijing-based IT solutions provider Ultrapower Software (300002.SZ) plans to acquire Beijing-based mobile game developer Kemu Software (Camel Games) for RMB 600-800 mln. Ultrapower has filed 5 consecutive "asset reorganization progress" announcements since July 10, and trading of the company's shares has been halted for over a month. Ultrapower and Camel Games have not issued any statements regarding a deal between the two companies.
According to an industry insider, in May 2013, Camel Games' co-founder Bao Fengming resigned from the company.
Camel Games was established in July 2011, and was the first Chinese company to obtain Google's official Android Top Developer status. By 2013, Camel Games had released 12 Android games. Among these games, monthly revenue from its 3D mobile LBS strategy MMO Little Empire has reached RMB 10 mln, one-third of which comes from the domestic market, and two-thirds of which comes from overseas.
Keywords: Bao Fengming Camel Games Little Empire revenue wireless Ultrapower 300002.SZ mobile gaming M&A HR
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