iCandy Interactive Ltd (ASX:ICI) has entered into a binding term sheet to acquire 70% of the issued capital in PT Joyseed Berbagi Sukses, an Indonesian mobile gaming development studio.
The acquisition sees the expansion of iCandy’s influence across the Asia Pacific region and strengthens the company’s foothold in Indonesia, a fast-growing digital media market.
Joyseed and its latest creation of Hollywhoot is set to place Indonesia as a global contender for mobile game development.
Hollywhoot global release planned for July 2018
Hollywhoot is the first of a series of games planned by the studio and is currently released globally for a limited early access on Google Play.
The global release of the game on both Android and iOS is estimated for a July 2018 release and will prove to be a key step for the expansion of iCandy’s growth internationally.
Joyseed will leverage iCandy’s audience which spans over 23 million mobile-gamers and iCandy’s studio network of Appxplore and Inzen Studios mentorship and co-publishing possibilities.
iCandy’s recently released mobile game, Light a Way, has generated more than 800,000 unique installs to date on major app stores.
The fantasy-themed adventurer game is getting positive traction with its daily revenue rising steadily since launch.