6waves Lolapps announced last night that it has acquired Beijing-based social gaming company Smartron5. The acquisition will provide legs for 6waves Lolapps in China. Rex Ng, CEO of 6waves Lol apps explained the rationale behind the acquisition:
The Asian market is complex and the Smartron5 team brings western-production values with a deep understanding of how to be successful in China. This addition to our team is key to our globalization strategy and will benefit our own game development efforts as well as those of our publishing partners.
The statement also explained that Smartron5?s CEO, Gage Galinger will become 6waves Lolapps? Vice President of Content Development and will lead operations in China. The rest of the Smartron5 team member will also be integrated into the 6waves Lolapps? China team.
Smartron5 was backed by London listed private equity group Origo Partners PLC. Terms of the acquisition were not disclosed.
We?ll be meeting up with the folks at 6waves Lolapps at Disrupt Beijing and this Smartron5 acquisition will surely be one of the talking points.
About Willis Wee
Co-founder of Penn Olson who is also an entrepreneur since 2005. He has had experience in crafting social media strategies for organizations such as Marriott Vacation Club, James Cook University, Reach Singapore and Unilever. Contact him at willis[at]penn-olson[dot]comSource: http://www.penn-olson.com/2011/10/29/6waves-lolapps-buys-social-gaming-company-smartron5/
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