Tech: iCandy Interactive expands on global gaming strategy with push into South Korea
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Mobile gaming platform iCandy Interactive (ASX:ICI) is staying busy on the deal front.
The company announced separate agreements this morning with two South Korean game studios — Nanali and MoviGame Co.
iCandy said the move was part of a broader strategy to push into new mobile game markets via partnership, offering distribution services for third-party game developers in different jurisdictions.
Shares in the company ticked higher in morning trade although the stock has struggled for traction since March.
In return for marketing and publishing of mobile games, iCandy plans to boost the top-line via revenue sharing arrangements with a broad group of partners.
By doing so, the company hopes to execute on its broader strategic vision to monetise a global network of more than 350 million mobile gamers.
However, it’s latest deals are still somewhat provisional in nature on that front. The company said estimated revenues expected to flow from its two agreements in South Korea were “uncertain at this time, as no minimum revenue target is guaranteed”.
“The company will provide further information regarding revenue and sales transactions as it becomes available,” iCandy said.
iCandy’s deal with Nanali is a three-year exclusive licence to publish and market Hellopet House, a mobile game based on the virtual pet simulator of the same name.
The game is expected to be launched by Q1 next year, and is an interactive pet game where users collect and raise different pets in a virtual simulation.
A similar deal was struck with MoviGame, which will be a two-year licensing arrangement for the game Penguin Dash, which is scheduled to launch in the June quarter 2020.
iCandy said no additional capital requirements would be necessary to complete the deals, and any additional funding in connection with the two agreements would be financed from existing working capital.
Family-photo sharing app Family Zone Cyber (ASX:FZO) is also eyeing Asian markets. The company announced that its Insights service was being launched into Indonesia, via an agreement with telecommunications company Telkomsel. Family Zone Cyber said Telkomsel would assist in marketing the product into the local market via various distribution channels.