Japanese gaming company Gree 173 million dollars to buy local players

Pokelabo is a local social gaming company founded five years ago, which mainly develops flash games in mobile phones. Last month Pokelabo just won a total of 12 million dollars from companies such as DCM. Beijing Time October 25 news, according to foreign media reports, the Japanese game industry giant Gree announced 173 million dollars full cash to buy social game developer Pokelabo. The deal has benefited many, such as DCM, which specialises in Asian markets, which holds more than 20% per cent of Pokelabo, while Sega, another game giant, holds about 19% per cent of Pokelabo. Pokelabo is a local social gaming company founded five years ago, which mainly develops flash games in mobile phones. Last month Pokelabo just won a total of 12 million dollars from companies such as DCM. Pokelabo's well-known games include "Sangoku Infinity" and "Clan Battle of Fate", which have entered the top 10 in the iOS and Google Play Japanese app Store rankings. Recently Pokelabo also launched a card game called "Mystic Monsters" to help Gree compete with Dena of Rage, a major competitor. Gree's willingness to issue more cards versus games was clearly expressed in his last earnings release. Just a few months before the 173 million dollar takeover of Pokelabo, in May this year, Gree spent 210 million dollars on acquisitions of Funzio, the US mobile social gaming developer. Gree is trying to find a balance between consolidating the dominance of Japan's domestic market and expanding its new markets in Europe and the United States. Like other Asian free value-added gaming companies, Gree's profit margins are far greater than those of Zynga and other American gaming companies. The current Gree market value of 4.1 billion U.S. dollars, the last quarter revenue of 502 million U.S. dollars, net profit of 154 million U.S. dollars. However, gree assets have been severely affected since last year, and Gree's shares fell nearly 50% per cent, as the government imposed a heavy-handed crackdown on gree, which used to be heavily reliant on consoles.