M&A-related news are relatively rare in Japan’s startup scene, but today we can report that mobile social gaming juggernaut GREE has acquired Tokyo-based ad exchange service Atlantis for 2.2 billion yen ($26 million). The company will be turned into a GREE subsidiary.
Big G says that the acquisition marks their entry into the mobile/smartphone ad business, which has been growing rapidly in Japan in recent months. With the move, GREE also wants to strengthen its recently launched “GREE Platform for smartphone” by which games will be offered to users of Android handsets and iPhones.
Atlantis was founded in 2007 and currently employs 15 people.
- This may be the first corporate acquisition for GREE. But the mobile game platform operator has acquired minority shares of mig33, mobile SNS based in Singapore, and istyle, cosmetics community site.
- In advertising field, Cirius Technology, location-based ads technology, was acquired by Yahoo Japan in 2010.
- Smartphone's rapid growth will boost up competition in mobile ads industry.