Mobile games firm Animoca Brands has acquired casual social gaming platform GAMEE.

As announced via its website, the Hong Kong based company has paid €4 million ($4.5 million) for the platform in shares. However, there are additional earn-out payments of up to €1 million ($1.1 million) in either cash or shares.

At the time of the acquisition, GAMEE had €700,000 ($792,232) in cash, with no debt. Through the deal, Animoca Brands will get access to more than 80 casual titles. Moreover, the social games platform boasts 13 million registered users, with 1.3 million of which are active monthly.

Animoca will use the acquisitions as a means of launching browser-based games, as well as titles for a variety of social platforms.

Up and up

Despite the world falling into chaos this year – thanks to the coronavirus – Animoca Brands has had a very successful year. In the first four months of 2020, the company achieved record-breaking revenues.

Furthermore, the firm has secured a $4.1 million investment, which will be used to make an initial public offering. On top of this, the company – at long last – finalised the sale of its mobile games library to Australian company iCandy.