Online Gaming Company Games2Win Acquires Casual Games Studio Backyard Game FactorRy
Mumbai-based online gaming company Games2Win.com India Pvt Ltd has acquired Delhi-based casual games studio Backyard Game FactorRy Pvt Ltd for an undisclosed amount. Rahul Jaiswal, CEO at Backyard Games FactoRy, will continue to head the company.
Backyard Game FactorRy was established in 2010 and has been a successful operating games studio, building web and mobile casual games. Its clients include Zapak, Volkswagen, Star Plus, among others.
In March 2013, Games2win raised $2 million (Rs 10 crore) series C investment from Clearstone Venture Partners USA. At that time company said that it plans to use the funds raised to acquire games and build its International team.
Alok Kejriwal – Co-Founder and CEO of Games2win said, “We have had a long working relationship with Backyard Game FactorRy and have always appreciated their work. Given that we are rapidly expanding our teams and headcount, we found it viable to propose a 100% acquisition of Backyard Game FactorRy. The Company will continue to operate as is, with its existing employees and will be headed by promoter Rahul Jaiswal, for whom we have great respect. Also, given the fact that the Company is based in Delhi, they will now hire aggressively and build a larger and robust studio for Games2win using the great talent present in the NCR region. This helps us leverage Mumbai and Delhi as major talent hubs for digital development in India. We are also quite keen to acquire additional game studios and game Companies in India who have an expertise in mobile and online games.”
Rahul Jaiswal – CEO of Backyard Game FactorRy said “We have always enjoyed working with Games2win as partners and have built several online games for them. When Alok Kejriwal and Mahesh Khambadkone (Co-Founders of Games2win) approached us and explained to us their long-term strategic vision for Games2win, we felt it was a great opportunity for us to partner with them and be a part of a much larger enterprise. This acquisition now empowers us to build our dreams, with the strong backing of a global gaming giant.”
According to reports by research firm Gartner, the money that will be spent on digital gaming will reach $112 billion by 2015 globally. Considering different genres of digital gaming collectively, there are more than 600 million users who play social games and the market for social gaming touched $1.5 billion globally in 2010. Mobile gaming is also on the rise, with more than 840 million subscribers in India; it is expected to reach Rs 17.1 billion in revenues by 2015.