Another interesting news comes from Indonesian gaming industry. One of the Indonesian game developers, Joyseed acquired by iCandy Interactive to help them enter the global market.
The Australian-based publisher reportedly acquired 70% stake in Joyseed for around US$250,000 amount. The deal could add around US$100,000 (to be paid in iCandy shares) if the studio can bring in US$350,000 revenue in the next two years.
Recently, Joyseed released the soft-launched version of Hollywhoot, an idle clicker game that mimics Hollywood’s movie business. With this acquisition, all games developed by Joyseed will continue to be released under Joyseed’s own brand.
For the marketing operations, it will be managed by iCandy’s Singapore subsidiary. This also makes Joyseed the third iCandy’s studio portfolio in Southeast Asia after Malaysia’s Appxplore and Singapore’s Inzen Studio.
According to the press release, iCandy said that the deal also enables Joyseed to harness iCandy’s userbase to market its titles too. It’s also reported that until now, iCandy already has userbase around 23 million mobile gamers around the world.
Journey to the global market for the award-winning developer
Joyseed is one of Indonesia’s rising star developers that have been recognized by some awards. Its game Hollywhoot won the Game of Year and Best Visual awards in Compfest 9 last year and received a nomination for the 2nd International Mobile Gaming Awards SEA 2017.
“Joyseed represents Indonesia’s growing game development capabilities and demonstrates its strength by the awards that it’s won in the region,” said iCandy chairman Kin Wan Lau according to the press release.
“Following the limited early access launch in May, the game has continued to gain the attention of players from across the globe with its fun take on Hollywood parodies. This transaction will allow Joyseed to capitalize on the established player base of iCandy and utilize its rich experience and resources,” he continues.
“We believe this acquisition will help us grow faster, learn better from mentorship with Appxplore and iCandy team,” said Joyseed’s CEO Bernardus Boy Dozan.
“On the other hand, this acquisition will boost our resource and network from iCandy. As a junior, it’s a very important step for us, to learn from the experienced mentor and wide network from the group. We believe this acquisition will help us grow and execute our vision!” he continues.
It's not too hard to be the greatest movie director in the world. When playing Hollywhoot, anything can happen. Here is our Hollywhoot review after spending time playing the game.
For now, Joyseed is preparing the global release for Hollywhoot. It is planning to release the game for Android and iOS in July 2018.
Congratulations for Joyseed and iCandy for the acquisition!