It's been a big year for Beijing developer Magic Universe. Established in 2009, it's built its reputation with two games; Latent Dragon Online and Forget Sin. Both released in 2012, Latent Dragon Online generated around $3 million in the first half of 2013, while action RPG Forget Sin - which has remained in the Chinese iPhone top grossing top 100 since launch - is now making $5 million a month.
The result is floated publishing company Tangel (SHE:300148) acquired Magic Universe for around $200 million including $60 million in cash in August. Not bad considering its 2012 turnover was just $11 million.
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