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Highlights:
Streamplay Studio (ASX:SP8) to acquire North American gaming company Noodlecake Studios.
Noodlecake's profitability and established partnerships with leading brands such as Apple, Google, and Xbox were key factors in the acquisition.
The acquisition will create synergies, enhancing Streamplay’s product suite and expanding its global gaming footprint.
Description:
Streamplay Studio (ASX:SP8) has entered into an agreement to acquire Noodlecake Studios, a North American gaming company, in a strategic move to bolster its position in both regional and global gaming markets. Founded in 2011, Noodlecake has established a strong presence in the industry with over 60 in-house and published games, accumulating more than 270 million downloads. The company has forged significant partnerships with leading platforms such as Apple, Google, Xbox, PlayStation, Nintendo, and Steam.
The acquisition, facilitated through a share sale agreement with Noodlecake’s parent company, Zplay (HK) Technology, a Chinese mobile game publisher, is driven by Noodlecake's strong profitability. Over its 13-year history, Noodlecake has generated substantial revenue through in-app purchases, direct game sales, and advertising. In addition, the company achieved annual revenue of $7.3 million for the three years ending December 2023.
Streamplay's CEO, Bert Mondello, highlighted the strategic value of this acquisition, emphasizing how Noodlecake's successful business model and extensive experience align with Streamplay’s existing technology and services. The integration of Noodlecake's established practices and market insights is expected to enhance Streamplay's product offerings and drive further growth in the competitive global gaming industry.
The acquisition will also enable Streamplay to diversify its product and geographic revenue streams, leveraging shared synergies between both companies. Streamplay’s game studio, focused on cloud gaming research and development, will collaborate with Noodlecake’s team to bring innovative products to market. Furthermore, Streamplay’s corporate and financial support will provide Noodlecake with the operational resources to expand its publishing reach.
With both companies using compatible technologies and operational platforms, the integration process is expected to be smooth, allowing for swift collaboration and development of new gaming projects. This move positions Streamplay for substantial growth in North America and the broader gaming market.
