Star Girl studio sells majority share in its popular mobile franchise

Newsbrief: Animoca, a Hong Kong-based studio that creates smartphone games, has entered into an agreement to sell a controlling interest in its popular Star Girl game franchise. The company is selling 70 percent of its interests in the Star Girl series to Crosby Capital Limited, a strategic investment company listed on the Hong Kong Stock Exchange, with a base acquisition value of $9.66 million in cash and stock. Additional bonuses may potentially raise this to as much as $21 million. Crosby believes that by purchasing a stake in Star Girl, it can tap into an "expanding yet under-exploited market" of women playing mobile games. The Star Girl franchise is worth approximately $30 million.