As revenues jump by 26%, Gamevil makes move on Finland

Invests in studio staffed by Rovio and Mr. Goodliving vets

As revenues jump by 26%, Gamevil makes move on Finland

On the back of a 26.5 percent jump in revenue, Korean giant Gamevil [KDQ:063080] has unveiled a seed investment in a Finnish studio and publishing partnerships with developers in Colombia and Ukraine.

Sales at Gamevil came in at 21 billion KRW (around $19.6 million) in Q3 2013, with the firm citing record overseas sales of 12.2 billion KRW ($11.4 million).

Indeed, that represents a major jump for Gamevil's overseas efforts.

In the same period of 2012, overseas sales accounted for 35 percent of the firm's revenue. That share now stands as almost 60 percent, though the rise should come as no surprise.

The global game

The last few months have seen Gamevil dip into its 'warchest' to make a series of investments in global studios, with Finnish developer Ocean View Games – staffed by former Rovio and Mr. Goodliving employees – the latest to benefit from seed funding.

Gamevil has also entered into publishing partnerships with Colombian developer Brainz and Ukrainian developer Zadzen Games.

"With over a decade of hands-on experience in mobile gaming coupled with our presence in all major markets, no other mobile gaming publishing company is as effective as Gamevil in providing a truly global approach," stated Kyu Lee, President of Gamevil USA.

"Through our focused global expansion efforts, we are planning to work with talented teams from all over the world, and invite developers to come meet with us at G-STAR."

Talent spotting

It's this 'investment in talent', however, that caused net profits at the firm to slide in Q3, coming in at 1.8 billion KRW (around $1.7 million) – a slide of 63 percent, in part due to the firm's overseas activities and increased third-party royalties.

"In order to consolidate the foundation for future growth, Gamevil also showed a full range of investments this year, which included equity investments and acquisitions, talent  acquisition, and overseas expansion," said the company of the last quarter.

"In particular, the Com2uS acquisition established a major stepping-stone going forward by combining the game development and global publishing capabilities of Com2uS and Gamevil, respectively.

"Going forward, Gamevil looks to capitalise on the potential of both companies' global platforms, Com2uS Hub and Gamevil Circle, by creating global synergy through collaboration, cross-promotion, and other events."

With a fine eye for detail, Keith Andrew is fuelled by strong coffee, Kylie Minogue and the shapely curve of a san serif font.