fbpx
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Marketplaces & E-commerce
    • Ecosystem
    • Robotics
    • Investments
    • EdTech
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Investors’ interviews
    • Founders’ interviews
    • Product Launch
  • MORE
    • Events
    • Startups Advice
  • Submit an Article
  • REGISTER
  • login
No Result
View All Result
No Result
View All Result
Home Animation

Australian gaming firm iCandy Interactive acquires Lemon Sky Studios

Team AsiaTechDaily by Team AsiaTechDaily
22 November 2021
in Animation, Featured
0
iCandy
15
SHARES
Share on FacebookShare on Twitter
Bookmark (0)

Please login to bookmark

No account yet? Register

ASX-listed international gaming company iCandy Interactive Limited announced its acquisition of one of the leading Southeast Asian gaming studios, Lemon Sky Studios.

The acquisition cements both companies as “a force to be reckoned with” as the largest indie video gaming company in Southeast Asia, Australia, and New Zealand.

This acquisition is valued at A$44.5 million ($32.4 million) to be fulfilled together with cash and newly issued iCandy shares.

The two companies now have 450 full-time professionals in AAA game development, game art, animation, and 3D modelling. It is expected that they will generate no less than A$17 million ($12.36 million) in revenue per annum.

This will form the largest pure-play game development company on the Australian Stock Exchange, and in Australia and Southeast Asia too.

Kin W. Lau, Chairman of iCandy Interactive, describes the recent development as a “phenomenal acquisition and an excellent addition to iCandy Interactive.”

“We now have this unparalleled capability in the region, we will focus a fair bit of our newly gained superpower to make high-quality games for the metaverse, arguably the most important development for the gaming world,” Lau said.

Cheng-Fei Wong, CEO of Lemon Sky Studios, said they are positive that the merger will “encourage creative working methods and bring about new ideas”.

Lau added that the merger of their expertise with a studio like Lemon Sky is ‘truly phenomenal’ and they look forward to the outcome of integration of their teams.

With their merger, both companies will be a leading powerhouse through regional expansion plans in developing and AAA gaming on blockchain for the open metaverse.

Metaverse is a virtual world that allows work and play, shared by millions (or billions) of people which is built with next-generation technology encompassing Virtual Reality, Augmented Reality, and Video and Gaming technologies.

Meanwhile, iCandy also announced that it raised A$40 million ($29.1 million) from institutional investors via a placement that is described as heavily oversubscribed.

Animoca Brands, iCandy’s cornerstone investor, led the latest fundraising round.

Previous Post

Malaysian VC firm MAVCAP launches tech-focused venture funds

Next Post

INTIN introduces new digital healthcare products to improve quality of life

Related Posts

edit post
Bayo Pay
Featured

Malaysia’s Bayo Pay bags $2.4m in Series A round led by VentureTECH SBI

June 2, 2023
edit post
Oxalus
Blockchain

Blockchain startup Oxalus raises $1.1m for NFT social commerce expansion

June 2, 2023
edit post
Sleek CEO, Eric Kim at the East meets West Pitch competition
AI & Big Data

Sleek’s ‘Hifive’ Fitness Platform Triumphs at 2023 East Meets West Pitch Competition in Hawaii

June 2, 2023
edit post
WeGoWhere
Featured

500 Global leads $1.2m Seed funding in social networking startup WeGoWhere

June 1, 2023
edit post
Hybr1d
Featured

SG startup Hybr1d raises $3.2m, eyes global workforce management expansion

June 1, 2023
edit post
TRIREC
Clean Technology

TRIREC, INNOPOWER team up for $100m green energy fund

May 30, 2023
Next Post
edit post
Intin

INTIN introduces new digital healthcare products to improve quality of life

Discussion about this post

No Result
View All Result

Follow Us

FREE NEWSLETTER




Copyright © 2023 AsiaTechDaily.com| About Us | Seed accelerator| Terms of Use| Privacy Policy| Cookie Policy Contact : [email protected] | DMCA.com Protection Status | trusted by Wimgo

No Result
View All Result
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Ecosystem
    • Marketplaces & E-commerce
    • Robotics
    • Investments
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Investors’ interviews
    • Founders’ interviews
    • Product Launch
  • MORE
    • Events
    • Startups Advice
  • Submit an Article
  • Forums
  • Jobs
  • REGISTER
  • Login

Copyright © 2023 AsiaTechDaily.com| About Us | Seed accelerator| Terms of Use| Privacy Policy| Cookie Policy Contact : [email protected] | DMCA.com Protection Status | trusted by Wimgo

We hope you enjoy our content, May you please give us Feedback regarding our website!

Single Post Feedback