Social gaming giant GREE has acquired a 49.2 percent stake in newly formed Japanese developer GeePlus, it's been revealed.

GeePlus, which employs 140 engineers and other staff, is reportedly less than a month old, having been spun out from a larger social gaming outfit, Polygon Magic.

The financial terms of the deal have not been disclosed.

Looking both ways

The share sweep comes as GREE focuses on expanding its hand in the West.

Having launched its global mobile social gaming platform for iOS and Android, US and European consumers are set to be treated to big Western-focussed franchises such as Assassin's Creed and the Sid Meier franchises, courtesy of GREE.

But at the same time, GREE faces considerable competition in Japan, both from existing rivals such as DeNA – which runs mobile platform Mobage – and newcomer LINE.

GREE's expansion overseas hasn't yet resulted in the company taking its eye off the ball at home. The move on GeePlus, for example, comes a little over two months after the company invested in Japanese HTML5 tech outfit Wizcorp.

Details as to what GREE plans to do with its stake in GeePlus are unclear, though the company has confirmed it will develop games for its mobile social platform in co-operation with the new studio.

GREE has also dispatched board directors and an auditor to the developer.

[source: SerkanToto.com]