Line Corp., the operator of Japan’s most popular mobile messaging service, has agreed to acquire a minority stake in Japanese mobile games developer Gumi.
The stake will be less than 10%, with the precise level of investment still under discussion, the two companies said at a joint press conference in Tokyo.
“Together with Gumi, Line wants to provide more content on Line’s platform to attract global users,” Jun Masuda, Line’s chief strategy and marketing officer, said.
Through the deal, Gumi is hoping to secure more users in Europe, North and South America. Line has more than 490 million users worldwide.
Gumi is planning to launch an initial public offering on the stock exchanges in Tokyo and New York as early as December.
In other news, Line has unveiled a plan to set up a Y10 billion (€73 million/$98 million) fund to invest in Japanese game developers. The fund is expected to be called Line Game Global Gateway and will be managed by Line Ventures.
source : www.igamingbusiness.com
