|MFORMA Makes Strategic Investment in Magus-Soft, China's Leading Mobile Games Developer|
Posted: 12-Oct-2004 [Source: Mforma Group]
[Mforma moves into Chinese mobile gaming market with investment in Magus-Soft, the number one China-based developer and publisher of mobile entertainment applications.]
Bellevue, Wash. -- Mforma Group has made a strategic investment in Magus-Soft, the leading mobile games developer in China. The investment establishes for Mforma an operating presence in China, allowing it to distribute Java and Brew applications, as well as SMS, WAP, and other interactive mobile applications, throughout China. Mforma has been working in China for more than a year and formed Mforma China last June.
Magus-Soft has developed more than 80 mobile games and entertainment applications for the Chinese marketplace for both Java and BREW wireless platforms. Magus-Soft is the number one China-based developer and publisher of mobile entertainment applications and has developed successful applications for multiple genres, including sports, RPG, adventure, arcade, and casino, as well as premium branded titles such as Team China Soccer, and Super League Football. The partnership between Mforma and Magus-Soft is of key strategic benefit to both parties. Mforma instantly strengthens its position in the Chinese marketplace and Magus-Soft benefits from Mforma's global distribution network and worldwide publishing capabilities.
The mobile entertainment market is thriving in China and with 300 million subscribers today projected to grow to 500 million subscribers by 2008, China is the largest and fastest growing wireless market in the world. According to ARC Group, a leading wireless industry research firm, mobile entertainment revenues in China will reach $3.6 billion by 2008.
Mforma purchased the investment stake in Magus-Soft from Siemens Mobile Acceleration (SMAC), a leading wireless sector investor that fosters early stage startups focusing on mobile applications and technologies. Magus-Soft has been a portfolio company of SMAC since 2002.
Back to Headlines...