Lolapps Merges With 6waves to Develop and Publish Social Games Internationally
Terms of the deal were not disclosed, but Lolapps’ CEO Arjun Sethi tells us its close to being a merger of equals.
Together, the two companies will have about 35 million active users a month and 120 employees in San Francisco, Japan, Hong Kong, and the U.K.
And now, with the help of 6waves, the combined company will not just build its own social games internally, but also publish third-party games looking for an international audience.
Other companies, such as Electronic Arts, publish third-party social games, as compared to Zynga, which develops everything internally.
The merger is Lolapp’s second recent move to build out its depth of capabilities. Known for its Ravenwood Fair game, which has been a top-performing game on Facebook, Lolapps acquired the Fliso Engine two weeks ago. The engine provides some behind-the-scenes technology that many developers license for running Flash games.
The combined company will be able to provide that platform to third-party developers.
“The coming together of two of the social gaming industry’s leaders made a lot of sense given our complementary strengths and aligned vision,” Sethi said.
Following today’s deal, the combined company will be branded as 6waves Lolapps. The two companies, which have both been profitable, were independently speaking to investors, and expect to raise more funding in the coming months.
To date, Lolapps has raised $4 million in capital, and 6waves has raised $17 million.
Rex Ng, the CEO of 6waves, will serve as the new CEO, and Sethi will report to him.
The new six-member executive team will include three members of 6waves, including Ng, and three members of Lolapps, including Sethi.