Japan's Gree to buy U.S. mobile game maker Funzio for US$210 million

The Japanese mobile game provider will acquire games including "Crime City" and "Modern War"

Japanese mobile game provider Gree said Wednesday it will buy California-based developer Funzio for US$210 million.

The acquisition will allow Gree to add to its growing portfolio Funzio's game franchises, "Crime City," "Modern War," and "Kingdom Age," which have totalled over 20 million downloads worldwide. The Japanese company, which acquired game platform operator OpenFeint last year, is expanding aggressively toward its goal of 1 billion users. It had 190 million at the end of last year.

Funzio's games are free but charge for in-game currency. In Crime City, for instance, a "bag of gold" costs US$4.99, while a "vault of gold" is available for US$79.99. Many of Gree's other offerings also charge for in-game purchases, as well as generating revenue from advertising and its social platform.

Gree has mainly focused on mobile games until now, but Funzio has also expanded its titles to social networks Facebook and Google+, looking to leverage its success in Apple's iOS ecosystem.

Gree is putting the finishing touches on a new global gaming platform announced last year. The company has said the platform will go live by the end of June, unifying its existing APIs and allowing game developers to easily launch globally on iOS, Android or on the web. It will also allow the company to unify its social and advertising networks, which generate most of its profits.

The Japanese company is fueling its overseas ambition with strong income at home and a yen that is near record highs versus other currencies. For the fiscal year through June, it targets a net profit of at least ¥44 billion (US$550 million).

Gree is competing in the U.S. and other international markets with Japanese rival DeNA, which acquired mobile game firm ngmoco and has sealed deals with large carriers such as AT&T. The two companies have clashed in court over copyright infringements and the alleged blocking of developers from launching games on each others' platforms.

Funzio is based in San Francisco and has 100 employees, according to its web site. The company is funded by IDG Capital Partners, which is backed by International Data Group (IDG), the parent company of IDG News Service.

Join the PC World newsletter!

Error: Please check your email address.

Our Back to Business guide highlights the best products for you to boost your productivity at home, on the road, at the office, or in the classroom.

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Jay Alabaster

IDG News Service
Show Comments

Most Popular Reviews

Latest News Articles

Resources

PCW Evaluation Team

Azadeh Williams

HP OfficeJet Pro 8730

A smarter way to print for busy small business owners, combining speedy printing with scanning and copying, making it easier to produce high quality documents and images at a touch of a button.

Andrew Grant

HP OfficeJet Pro 8730

I've had a multifunction printer in the office going on 10 years now. It was a neat bit of kit back in the day -- print, copy, scan, fax -- when printing over WiFi felt a bit like magic. It’s seen better days though and an upgrade’s well overdue. This HP OfficeJet Pro 8730 looks like it ticks all the same boxes: print, copy, scan, and fax. (Really? Does anyone fax anything any more? I guess it's good to know the facility’s there, just in case.) Printing over WiFi is more-or- less standard these days.

Ed Dawson

HP OfficeJet Pro 8730

As a freelance writer who is always on the go, I like my technology to be both efficient and effective so I can do my job well. The HP OfficeJet Pro 8730 Inkjet Printer ticks all the boxes in terms of form factor, performance and user interface.

Michael Hargreaves

Windows 10 for Business / Dell XPS 13

I’d happily recommend this touchscreen laptop and Windows 10 as a great way to get serious work done at a desk or on the road.

Aysha Strobbe

Windows 10 / HP Spectre x360

Ultimately, I think the Windows 10 environment is excellent for me as it caters for so many different uses. The inclusion of the Xbox app is also great for when you need some downtime too!

Mark Escubio

Windows 10 / Lenovo Yoga 910

For me, the Xbox Play Anywhere is a great new feature as it allows you to play your current Xbox games with higher resolutions and better graphics without forking out extra cash for another copy. Although available titles are still scarce, but I’m sure it will grow in time.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?