Update: Kabam has since informed us that this deal is based around Warners and MGM buying out the shares of an existing investor, and no new money has been raised.
Given that Kabam has raised $125 million in four funding rounds over five years, the news it's taken further investment from Warner Bros. Entertainment and MGM Studios is surprising.
Details haven't been announced, but Warner Bros. Home Entertainment's president Kevin Tsujihara joins the Kabam board, while MGM's CEO Gary Barber takes the role as an observer.
Kabam recently signed a deal with the two companies, quickly releasing a game based on The Hobbit film and is working on The Hobbit: Armies of the Third Age for 2013, so this may be more of a strategic link up than a hard money deal.
Not turning back
Strong on Facebook and its own Kabam.com portal, the developer of free-to-play hardcore social games has been accelerating its mobile activities during 2012.
It now has six iOS games and three Android games available.
Kingdoms of Camelot: Battle for the North has been solidly in the top 10 US top grossing iOS charts since its release in February, while more recently Kabam has also experimented with hybrid match-3 RPG Legend Four and slots game Kabam Slots.
It also has a mobile version of its sci-fi strategy game Edgeworld currently in beta on the Canadian App Store.
[source: TechCrunch]
News
Contributing Editor
A Pocket Gamer co-founder, Jon is Contributing Editor at PG.biz which means he acts like a slightly confused uncle who's forgotten where he's left his glasses. As well as letters and cameras, he likes imaginary numbers and legumes.
Related Articles
Top Stories
Feature
May 17th, 2024
New release roundup: The best new mobile games from a battle royale to a console classic remake
Feature
May 16th, 2024
Behind the scenes: How adding sandwich offers to an idle merge game boosted three metrics at once
Events
Digital Dragons | Europe | May 19th |
GamesBeat Summit 2024 | North America | May 20th |
Mobidictum Meetup Tallinn May 2024 | Europe | May 21st |
Nordic Game Spring 2024 | Nordic | May 21st |
Impact 2024 - Indie Games | May 23rd | |
Morocco Gaming Expo | Africa | May 24th |
MomoCon 2024 | North America | May 24th |
Unreal Fest Gold Coast 2024 | Australasia | May 29th |
Popular Stories
Feature
May 14th, 2024
53 top mobile games in soft launch: Squad Busters, Battle Guys: Royale, Plants vs. Zombies 3, LEGO Hill Climb Adventures, and more
Feature
May 13th, 2024
Hot Five: Dubai's new Gaming Visa, April's mobile game charts, and Xbox studio closures
Feature
May 14th, 2024