Update: Kabam adds Warners and MGM to its investor list
Builds on The Hobbit IP play
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.
Post a comment - Please log in to leave a comment
Think creatively: 50% of 6 million monthly Google Play search terms are misspelledLATEST FEATURES
Speeding to success: Business accelerator YetiZen reveals its latest round of hot start-upsLATEST COMMENTS
Vlambeer: Free-to-play is teaching gamers to 'pay not to play' 3