GREE Boosts its Social Game Development Capabilities with Investment in GeePlus
Jun. 15, 2012
TOKYO, Japan - June 15, 2012 - GREE today announced its acquisition of ordinary shares of GeePlus, INC. (“GeePlus”) held by GeePlus's existing shareholder, as well as the acquisition of additional shares issued through a third-party allotment.
GeePlus, a company focused on the planning, development and operation of social games, was established on June 1, 2012 through a company split by POLYGON MAGIC, INC. (“POLYGON MAGIC”), a digital entertainment content planning and production company. GeePlus has strong operational capabilities and a talented development team of approximately 140 engineers and staff, who were transferred from POLYGON MAGIC. Upon completion of this stock acquisition, GREE will hold 49.2% of the voting rights of GeePlus.
In May 2012, GREE globally launched the GREE platform, a mobile social gaming network that enables the seamless provision of applications to users around the world. Through its investment in GeePlus, GREE has secured an important partner and further strengthened its social game development capabilities, supporting its endeavor to create the world's leading mobile social games ecosystem.
Overview of GeePlus
|Trade name||GeePlus, INC.|
|Main business||Planning, production and operation of social games|
|Paid-in capital||101 million yen (as of June 15, 2012)|
|Relationship between listed company and GeePlus||Capital relationships: No relationships to disclose
Personal relationships: GREE has dispatched board directors and an auditor to GeePlus
Business relationships: GeePlus is a development partner of GREE
Overview of POLYGON MAGIC
|Trade name||POLYGON MAGIC, INC.|
|Main business||Planning and production of digital entertainment content;
Internet media business;
computer graphics technology, online technology R&D
|Paid-in capital||325 million yen (as of June 15, 2012)|
This transaction is not expected to have a significant impact on business performance. If any material impact on performance is identified, it will be disclosed promptly.
About GREE, Inc.
GREE is a global mobile social gaming company at the forefront of mobile technology. GREE is focused on building the world's leading mobile social gaming ecosystem for users and developers, while creating and supporting unique free-to-play game content. GREE is continuing to expand globally and has offices in Tokyo, San Francisco, London, Singapore, Seoul, Beijing, and Amsterdam.