Sorrent to buy Euro-based Macrospace
Combined company will have access to 800 million mobile subscribers.
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Early this morning in London, Sorrent and Macrospace jointly announced one of the largest mergers yet in the mobile games industry, which has already experienced considerable M&A activity this year (with the Digital Chocolate acquisition of Sumea and Infospace's purchase of Atlas Mobile being two of the most significant).
Under the terms of this agreement, San Jose-based mobile publisher Sorrent is set to acquire Macrospace, a mobile game creator headquartered in London. According to Sorrent reps, the merger will grant the company access to a global distribution network of 90 mobile carriers.
Due to existing licensing agreements with partners that include Cartoon Network, Eidos, and Square Enix, Macrospace is an especially valuable property in the mobile space. Macrospace's reach had been previously extended to include the US market, but its original and third-party games, which include critical favorites like Fatal Force: Earth Assault and commercial hits like the global version of Who Wants to Be a Millionaire?, are best known in Europe.
"Macrospace is one of the most highly regarded mobile gaming companies in Europe and is a true culture fit with Sorrent," said Greg Ballard, Sorrent CEO. "The company has demonstrated an unwavering commitment to quality. Their exceptional management team, innovative portfolio of games, and extraordinary technology and distribution significantly enhances our position in Europe and will be a substantial asset to Sorrent."
The present deal will allow Macrospace to continue its operations in London under its present management team. The financial portion of the agreement was not disclosed.