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Actoz Soft raises $67.6 million for global mobile games expansion

Plus paying off existing debts

Actoz Soft raises $67.6 million for global mobile games expansion
By , Contributing Editor
Korean developer and publisher Actoz Soft (KOSDAQ: 052790.KQ) has announced a rights issue.

This will see the company raise $67.6 million (76.285 billion KRW).

Some of the cash will be used to strength the company's ongoing mobile game strategy, both in terms of development, marketing, licensing and acquisitions.

The pay-offThe remainder of the money raised will be used by Actoz Soft's majority shareholder Shanda Games to pay off the $40 million it owns to Eyedentity.

Shanda acquired Eyedentity's 20.5 percent holding in Actoz Soft in October 2012 in a deal worth $100.3 million.

Shanda Games now owns 51 percent of Actoz Soft, which has recently found success publishing Square Enix's Million Arthur card-battling game in the Chinese market.

[source: Shanda Games IR]
Jon Jordan
Jon Jordan
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.