Mad Hand Tour

Absrtact: Mobile gaming has become a 2013 a-share market a somersault cloud, whether demon or fairy, step on this point can be clouds. After a short break from the acquisition, October 15, the Gem Hand Tour concept of palm Technology (300315) from up to 3 months

Mobile gaming has become the 2013 a-share market a somersault cloud, whether demon or fairy, step on this point can be clouds. After a short period of acquisition and intermission, October 15, the Gem Hand Tour concept of technology (300315) from the 3-month suspension of the wake up, announced to 2.5 billion of the scale, a merger of the play Crab technology and upstream information two game companies, coupled with the previous mergers and acquisitions of the pioneer of the 800 million scale, this year, Palm technology in the hand tour market capital Operation Scale has reached 3.3 billion, the market value is also soaring by 20 billion.

It is noteworthy that in the hands of the market crazy far more than the palm of the fun. This year, in the domestic market, around the hand tour theme of mergers and acquisitions and integration, has occurred more than 10, the scale of nearly billion, in addition to the relevant games, media, cultural companies, and even some of the traditional enterprises to do equipment industry have intervened, put on the "hand tour of the robe."

In more and more foreign capital intervention, hand tour industry production team level is uneven, channel costs push high, the hands of the madness can continue how long?

3 Card Trading

3-month suspension, two transactions, 2.5 billion scale plus the exchange trading, palm-fun technology and heavy withdrew tour concept shares leading.

According to Palm Technology 15th Night Disclosure announcement, the cumulative 2.5 billion yuan acquisition, the acquisition of 1.739 billion yuan crab technology 100% equity, 814 million yuan to acquire upstream information 70% equity. Trade to take the industry's popular non-public offering shares plus cash payment, which involves a cash payment of 1.232 billion yuan, the non-public offering shares part of 1.32 billion yuan.

If the transaction unit price calculation, the palm of the acquisition of this not only earlier than the beginning of their own acquisition of the 800 million of the Pioneer network, but also the game industry this year's trading record.

Previously, Datang Telecom to Guangzhou to play the transaction price is 1.699 billion yuan, Bo Rui spread the price of roaming valley is 1 billion yuan, and Huayi Brothers holding Silverside technology 50.88% shares of the price is 672 million yuan, if the total valuation calculation, then about 1.321 billion yuan.

Despite the cost, the technology management in the afternoon of 15th, the media communication will repeatedly stressed that "mobile games will be time," the palm of the 3-month suspension, the two mergers and acquisitions, is not because of the relevant process and waste trading time window.

"Mobile gaming is in the midst of an explosive growth. "Palm Technology CEO Lia Wenbin told reporters that in the past two years, the development of 3G in the country, the popularity of smartphones, has brought a huge increase in hand travel opportunities." With the 4G licensing this year, the future hand tour will have further positive stimulation. "The road is wide and the car running on it will be more and more." ”

Analysys International analyst Shi Yong that through the acquisition, the palm of the interest of the basic line to complete their own business. "The page swims, the hand swims, the release and the platform all have, the future still has certain to anticipate the growth sex." ”

The huge deal also did bring a long-awaited share-price binge. October 16, the palm of the technology resumption of the first day of the stock price rose 10.2%, triggering trading, followed by two trading days, respectively, 9.98% and 9.99% of the magnitude again trading, 3 consecutive trading, a short 3-day cumulative gain of 33%. As of October 17, palm-Fun technology market value exceeded 20 billion yuan, reached 21.354 billion yuan.

Skyrocketing is just a handful

With the big acquisitions, the game company's strong ability to absorb gold has also attracted much attention.

Palm Technology acquisition of the two companies, although the age of 2-3-year-old start-up companies, of which the size of a little more than 150 of the game of crab technology, but with one or two hot games, two companies even more than the palm of the technology itself.

Palm technology to provide information, play crab technology under the "Big Masters", "endure will" and other best-selling hand tour works, which "big masters" long-term in the Apple App Store China region game top five, a single game a day recharge record two times more than 10 million yuan.

And the other company's upstream information, the development of the web version of the "Tower Kingdoms" game, since June 2012 on the line to accumulate the amount of more than 149 million yuan.

If a single month water meter, these two games monthly average water in the tens, and up to now, the domestic market last month more than tens of millions of water in more than 20 games, Tencent last month launched the "Every Day cool run", only one months that has created over billion of the flow of revenue, to become a new benchmark.

But insiders frankly, the hand tour industry looks glamorous, in fact, only a small part of the money.

Shenzhen, a hand tour entrepreneur said, mobile phone game upfront investment is not low, including developers wages, equipment, venue rental fees and promotional advertising costs, and so on, hundreds of thousands of, millions of of the input range. From the development cycle, stand-alone game needs 1-6 months, and online games need 3-12 months online. In the initial stage of investment, more people rely on their own savings, and then a small part can pull to invest.

"Hand tour and other games, the death rate is very high, upfront investment, the back of the pattern of collecting money, it is easy to lead to a loss." "The person said, at present most of the hand tour is actually not profitable, and some successful game developers, but also rely on one or two star Games, a number of consecutive hot few," there is a lot of luck in the composition, the user's preferences sometimes difficult to grasp. ”

Bubbles may burst next year

Nuggets hand in the market, in addition to the palm of the game related enterprises, some outside the company and capital, including culture, media, film and television even some traditional equipment enterprises, also can not endure loneliness, in the game market around cruising.

June 27, Datang Telecom announced that the acquisition of 1.699 billion yuan trading price of the game maker Guangzhou to play Entertainment 100% stake. An old state-owned telecommunications equipment business, the instant "transformation" into a brisk game manufacturers. Coincidentally, another manufacturer of machinery and equipment manufacturing A-share listed companies Shenke shares, also a one-time suspension to consider the acquisition of game-like assets, the span of the big is staggering, but eventually because the transaction price did not agree to give up.

In Shi Yong's view, the effect of the year of mobile gaming has long been associated with capital operations. "This year is the year of mobile games, and everyone is starting to aim at moving the game and betting on the future of mobile games." On the other hand, the return of mobile games is very high, a product online, it is easy to make money. ”

However, the industry's introduction, the mobile gaming industry is increasingly expensive. "Last year, a game may only need a few people, but now, need more people, research and development time longer." More importantly, now hand travel so much, to put their own products effectively pushed to the user, the need for higher promotional costs, less hundreds of thousands of, millions of, many can reach tens of millions of. ”

Shi Yong also stressed that there is a bubble in the mobile gaming market and may burst next year. "From the second half of this year, the bubble is getting bigger, it is estimated that by the beginning of next year, the mobile game bubble may burst, so some not listed capacity, low risk-less ability of companies, land continued to sell, want to sell themselves." ”

And once the bubble period approaches, the channel starts to concentrate, the cost rises, the big manufacturer enters, the small team is eliminated, the capital also will withdraw from therein, the hand tour may usher in a cold winter period.