Under the agreement, Netmarble will acquire 100 per cent of shares of SpinX Games at $2.19bn (£1.57bn), to continue its global expansion by adding a new genre of games to the current extensive roster.
SpinX Games showed the most accelerated growth amongst the top 10 players in the Social Casino game industry in recent years, recording $432m in sales in 2020.
In the first quarter of 2021, the company generated $141m in sales, totaling sales of $286m for the first half of the year, marking a 46 per cent increase, YoY. Subsequently, in the second quarter of 2021, SpinX Games ranked third in global sales in the mobile Social Casino genre.
Popular titles on the platform include Cash Frenzy, Lotsa Slots, and Jackpot World.
"The Social Casino genre shows continued global growth, and we are very excited to execute a share purchase agreement with SpinX Games, one of the leading companies in the genre,” said CEO of Netmarble, Seungwon Lee. “Through the acquisition, Netmarble will add the Social Casino genre alongside its existing main genre of RPG to further strengthen its lineup of casual games. With this diversified portfolio, we expect to fortify our competitive edge in the global mobile gaming market.”