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iCandy Interactive (ASX:ICI) - Chairman, Lau Kin Wai - The Market Herald
Chairman, Lau Kin Wai
Source: GamerBraves
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  • iCandy Interactive (ICI) has entered into an agreement to acquire 100 per cent of Nextgamer.io
  • Nextgamer is developing a hyper-casual competitive gaming platform
  • iCandy will pay $1.29 million for Nextgamer, made up of $900,000 in cash and three million iCandy ordinary shares issued at 13 cents each
  • The company says hyper-casual games are one of the fastest growing trends in the mobile games industry
  • Shares are trading flat at 11.5 cents

iCandy Interactive (ICI) has entered into an agreement to acquire 100 per cent of Nextgamer.io.

Nextgamer is developing a hyper-casual competitive gaming platform. Hyper-casual, meaning games that are easy to play and take a short time-frame to complete, are a growing trend in mobile gaming. Nextgamer says it aims to be the “Tik Tok of mobile games.”

As evidence for the rise of hyper-casual games, iCandy referenced gaming company Zynga's recent buyout of hyper-casual game developer Rollic for US$168 million (around A$217 million) late last year.

iCandy will pay $1.29 million for Nextgamer, made up of $900,000 in cash and three million iCandy ordinary shares issued at 13 cents each.

“We are really excited at the prospect of hypercasual gaming, and Nextgamer has a unique proposition that offers very short game sessions on the go to mobile gamers via a casual competitive gaming environment,” iCandy Chairman Kin W Lau.

“iCandy has extensive expertise in casual mobile games and we can market Nextgamer’s games to our large audience of mobile gamers internationally.”

Shares are trading flat at 11.5 cents at 12:00pm AEDT.

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