Mumbai based Games2win has acquired Backyard Game FactorRy, a casual games studio based in Delhi for an undisclosed amount. Rahul Jaiswal, CEO at Backyard Games FactoRy, will continue to head the company. Founded in 2010, Backyard Game FactoRy offers flash based games, social games (Facebook), Android and iOS based games. Its clients include Zapak, Volkswagen, Star Plus, among others. Alok Kejriwal, Co-founder and CEO at Games2win, has said that it plans to acquire more games studios and game companies in future.
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. Prior to this, Nirvana Venture Advisors had acquired 10% in Games2Win from early investors Nexus India, ICICI Ventures and from a few senior Company employees in March 2012. However it was not very clear whether there was any additional investment in the company, or it was merely an instance of investors and employees encashing some of their stake. In March 2011, the company had raised $6 million from investors Clearstone Venture Partners and Silicon Valley Bank. Prior to that, it had raised an undisclosed amount of funding from the same set of investors.
Launched in 2007, Games2Win started off by creating quirky flash games which were often related to current topics (like throwing a shoe at a politician), and its parking games have done quite well. The company claims that it has around 800 proprietary casual games and has clocked 30 million game downloads across the iTunes and Android operating systems in the past year. It also claims to register around 20 million monthly consumers across its web and mobile properties.
Other developments in game industry
Reliance Games, the mobile gaming business of Reliance Big Entertainment Pvt. Ltd, had acquired the gaming division of Funnel Japan, a mobile game development and publishing company. Reliance Games also bought a majority stake of 51% in the mobile game development studio, Bluesom Inc in Korea.
Digital entertainment business Hungama had inked a joint venture with Gameshashtra to build localized games on Consoles, handheld consoles, smartphones, desktops, and feature phones. In December 2012, Blume Ventures and First Light Ventures had invested $500,000 in MadRat Games.
In September 2012, One97 Mobility Fund had exited from the Singapore based mobile social gaming company TheMobileGamer after the company had raised Singapore$ 1.8 million investment from the telecom giant, SingTel. The company had invested Singapore$ 1 million in TheMobileGamer in July 2011.