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iCandy Acquires Renowned Lemon Sky Studios, To Form Largest Game Development Company in Australia and Southeast Asia

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iCandy Interactive Limited announced its 100% acquisition of the leading Southeast Asian gaming studio, Lemon Sky Studios. This acquisition adds strategic value and significant scale to iCandy’s existing capabilities. It will form the largest pure-play game development company on the Australian Stock Exchange, and in Australia and Southeast Asia too, with more than 450 employees while generating no less than A$17 million (US$12.36 million) revenue per annum.

With significant interest and best-regarded growth in gaming driven by the metaverse concept, iCandy Interactive and Lemon Sky will be a leading powerhouse through its regional expansion plans in developing casual and AAA gaming on blockchain for the open metaverse.

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

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iCandy Interactive’s core business is in game development, game publishing, and esports. The company is the co-founder of the global esports league and platform, Esports Players League (ESPL), fast-growing across 17 countries in Southeast Asia, South Asia, Latin America and Europe.

Games on the iCandy network are played by over 360 million mobile gamers worldwide. The gaming studios based in Malaysia, Singapore and Indonesia have won multiple awards, including Google Play’s Best of 2016 and 2017 New Android Excellence Game Award* Games Award for Crab War and other various coveted international events.

Its latest game release, Claw Stars, is a top-rated mobile game with over 1 million downloads since its initial release in July 2021. It has received more than 50,000 4-star and 5-star reviews on Google Play and App Store.

Founded in 2006, Lemon Sky Studios is an award-winning video game and animation studio world-renowned for providing innovative visual art solutions for critically acclaimed

AAA gaming titles ranging from Overwatch 2, Call of Duty – Infinite Warfare, to SimCity, Diablo 3, StarCraft: Remastered, amongst many other illustrious titles.

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The studio has amassed an incredible clientele over its 15-year history, working with gaming industry leaders such as Blizzard Entertainment, Naughty Dog, 2K Games, Square-Enix, Bandai Namco, Microsoft Studios, EA Entertainment, Disney and Nickelodeon.

“Lemon Sky Studios is 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.” says Kin W. Lau, Chairman of iCandy Interactive.

He adds, “Lemon Sky Studios’ track record in creating world-class visuals for AAA games is highly regarded in the industry. To merge our expertise with a studio like Lemon Sky is truly phenomenal, and we cannot wait to see the outcome of integrating our teams,”

“Collaborative partnerships in the creative industry are pertinent to keeping things fresh and innovative. We are positive that this merger will encourage creative working methods and bring about new ideas. We are extremely excited about the possibilities that lie ahead,” said Cheng-Fei Wong, CEO of Lemon Sky Studios.

The acquisition will be at a valuation of MYR135 million (A$44.5 million, US$32.4 million), to be fulfilled together with cash and newly issued iCandy shares.

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Concurrent with the acquisition, iCandy has also announced that it has raised A$40 million (US$29.1 million) from institutional investors via a placement that is heavily oversubscribed.

Leading iCandy’s latest fundraising round is another gaming heavy-weight, Animoca Brands, iCandy’s cornerstone investor. Animoca is a global leader in gamification technology and blockchain gaming with an extensive portfolio of over 100 investments in NFT-related companies and decentralised projects contributing to building the open metaverse. They raised more than US$200 million in 2021 and is currently valued by investors at US$2.2 billion. Separately, The Sandbox – Animoca’s subsidiary raised US$93 million recently, in a round led by Softbank Vision Fund 2.

The global video game industry is estimated to be worth A$214.33 billion (US$155.95 billion) in 2020**. With the APAC region leading the industry at 49% of the worldwide market, there is a clear pathway for growth with enormous upside potential expansion.

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Online Casino Platform 96M Partners with Formula 1

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Formula 1 and 96M, a premier Asian online casino platform, have officially announced a landmark partnership, bringing a new wave of excitement to fans throughout the region. This collaboration establishes 96M as the official betting partner of F1 in Asia, offering exclusive content, innovative betting opportunities and a forward-looking perspective on the future of both industries.

This partnership goes beyond the standard offerings. Fans can look forward to exclusive content tailor-made for the Asian market. Not only will fans gain a deeper understanding of the sport, but they’ll also be armed with the knowledge to make informed betting decisions.

96M will offer a thrilling array of exclusive betting options specifically designed for the Asian market. From daring pre-race predictions to in-play wagers that keep the adrenaline pumping, this partnership promises to elevate the viewing experience for fans of all levels.

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To celebrate this exciting collaboration, 96M is launching a special prediction promotion with a unique twist. Fans can participate by predicting race outcomes on the 96M platform via the one-of-a-kind F1 Airdrop. This innovative promotion promises a thrilling way for fans to engage with the sport and potentially score exclusive incentives.

This partnership is poised to redefine the landscape of both online betting and motorsport. By leveraging F1’s global reach and 96M’s expertise in the Asian market, the collaboration aims to set new standards for innovation, responsible gaming and audience engagement. With a shared commitment to delivering exceptional experiences, F1 and 96M are positioned to lead the industry forward.

The partnership officially commences ahead of the 2024 Singapore Grand Prix, marking the beginning of a thrilling new era for both F1 and 96M.

The post Online Casino Platform 96M Partners with Formula 1 appeared first on European Gaming Industry News.

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Fun88 and Dale Steyn Team Up for Another Winning Partnership

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Fun88, a leading online gaming platform, announced the continuation of its partnership with legendary cricketer Dale Steyn as its brand ambassador. This collaboration, which began in 2023, has significantly strengthened Fun88’s credibility and trustworthiness in the global gaming industry. The company is excited to have Steyn with them for another year, connecting with fans everywhere.

Dale Steyn, a former South African cricketer renowned for his exceptional cricketing career and celebrated as one of the greatest fast bowlers in the history of the sport, brings with him a wealth of experience & a legacy of excellence. His association with Fun88 underscores the platform’s commitment to providing a safe, secure and reliable gaming experience for all users.

Dale Steyn said: “From humble beginnings to the world stage, I made it through hard work, dedication, and belief. I pushed limits, broke barriers, and never forgot to have fun. Now, with FUN88, my journey continues. Whether it’s your next big game or a shot at fame, Fun88 is your guide. Play Fun, Win Big!”

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Over the past year, Steyn’s role as a brand ambassador has played a pivotal role in elevating Fun88’s reputation. His professionalism, along with his love for sports, matches Fun88’s values of transparency, caring for customers and providing top-quality entertainment. His presence has helped Fun88 connect with sports fans on a deeper level and bring them closer to the action. As Fun88 continues to expand, the platform is looking forward to strengthening its relationship with Steyn.

Fun88 is a leading name in the sports industry, sponsoring well-known teams and events across various sports like cricket, football and kabaddi. The platform is dedicated to promoting sportsmanship and connecting fans with their favorite games through innovative, engaging experiences, offering exciting opportunities for sports lovers to interact with teams and events through betting and live-action features.

The post Fun88 and Dale Steyn Team Up for Another Winning Partnership appeared first on European Gaming Industry News.

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Xsolla to Present Global Expansion Solutions at Tokyo Game Show 2024

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Xsolla, a global video game commerce company, will showcase its cutting-edge solutions at Hall 4, Booth #04-C48, during the Tokyo Game Show 2024, which will take place from September 26-27, 2024, at the Makuhari Messe Convention Center in Tokyo, Japan. Xsolla’s booth will feature live demonstrations of its latest solutions aimed at helping game developers and publishers succeed in expanding to international markets.

During the event, Jin Jeong, Regional Vice President of Xsolla Japan, will deliver a keynote session focusing on the critical role of Xsolla’s Merchant of Record (MoR) solutions in transforming the way game companies handle cross-border transactions, taxes, and regulatory complexities. This session will offer developers and publishers a comprehensive look into how Xsollasimplifies global operations, allowing studios to focus on creating games while Xsolla handles the business side.

In addition to showcasing their MoR solutions, Xsolla will demonstrate how their payment systems and cross-play/cross-pay features enhance global reach for game developers of all sizes and across all platforms. Xsolla will also showcase how they help video game companies integrate with various payment methods worldwide, allowing developers to monetize their games across different regions easily.

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David Stelzer, President of Xsolla, emphasized the significance of this event for the company: “We’re thrilled to be part of the Tokyo Game Show and to present our latest solutions designed to empower game developers and publishers to expand globally. Our mission is to support the gaming industry with the tools they need to thrive in international markets, and we are eager to showcase how Xsolla can make global expansion easier and more effective.”

Attendees are invited to visit Xsolla’s booth to meet with the team of experts, who will be available to provide insights, answer questions, and discuss how their tailored solutions can help game developers and publishers grow their businesses. For those interested in more in-depth discussions, Xsolla also offers one-on-one meetings to explore specific solutions for global market expansion.

The post Xsolla to Present Global Expansion Solutions at Tokyo Game Show 2024 appeared first on European Gaming Industry News.

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