Central regions | Finance, business | Technology & innovation
In play: Mail.ru stashes away $100m for games across world
25 Apr '17
Mail.ru Group, one of Russia’s leading Internet holding companies, has unveiled plans to invest about $100m in game developers and publishers across the globe in a two-year period, Firrma.ru reported, citing Mail.ru information.
The Russian Internet giant has already allocated $10m for a number of deals to come soon. Plans include the establishment of a special arm, Mail.ru Games Ventures, which will provide funds and give investees access to Mail.ru’s internal resources and services, such as technical, advertising, etc. Mail.ru Games Ventures will either acquire companies in M&A deals or buy into them as minority shareholders in consortiums with other investors. The firm wants to focus on mobile games, but solutions for PCs and consoles will also be considered.
Mail.ru Group already has a history of purchasing gaming projects; for example, last year it bought Pixonic, a game developer, in a $30m transaction. This past March, news came that China’s Alibaba Games (part of Alibaba Digital Media & Entertainment Group) had inked an agreement with Mail.ru Group on an alliance to focus on mobile game market proliferation.