CryptoLogic takes stake in top Asian game developer

"At CryptoLogic, we expect Asia will move from being the dynamic e-gaming market of today to the dominant e-gaming market of tomorrow," said Javaid Aziz, CryptoLogic’s President and CEO. "That’s why CryptoLogic is making its second strategic investment in the region. Mikoishi’s games have earned awards from critics and applause from consumers - and the company’s capabilities in mobile gaming and other platforms fit perfectly with its growth plans."

This strategic investment gives CryptoLogic an immediate and unrivalled capability to deliver games to Asian players with the high level of sophistication and rich entertainment experience that players around the world have come to expect from CryptoLogic. It also gains access to key Mikoishi proprietary technology that expedites rapid and efficient development of popular games across the key platforms of PC, console and the massive Asian mobile phone segment.

CryptoLogic will initially take a substantial minority equity stake in Mikoishi, and has options to increase its ownership over time. CryptoLogic will also have representatives on the Mikoishi board of directors.

The announcement represents CryptoLogic’s second strategic investment in Asia this year. In August, CryptoLogic announced that it had acquired a significant interest in 568 Network, a developer and distributor of online casual games to the Chinese market and the Chinese-language diaspora.