MyGames has acquired hyper-casual mobile studio Mamboo Games. The deal will see MyGames hand over "more than $2 million at close," and includes a deferred payment based on certain performance targets.
The news comes around a year after MyGames, which is the video game arm of Russian company Mail.ru, purchased a minority stake in Mamboo with a view to moving into the hyper-casual market.
Based in Minsk, Mamboo currently employs 35 people and has over 30 projects in its portfolio. One of its more recent releases, Shift Race, managed to hit 15 million installs within three months, while another called Billion Builders has become one of the top 10 most-downloaded iOS titles in China.
MyGames believes the deal will solidify its position in the hyper-casual market, and said Mamboo has performed well since it made that initial investment.
"There is a symbiosis between MyGames' expertise in mid-core games and Mamboo Games' expertise which allows us to create successful projects in the hybrid casual genre," commented MyGames CEO, Vasily Maguryan.
"We clearly understand how it is important to have flexibility and mobility today in the hyper-casual market, and will effectively scale Mamboo's business and provide them with all the advantages of an open partner environment."