Xurpas takes full control Fluxion
Technology firm Xurpas has taken 100-percent control of internet and mobile app developer Fluxion Inc. to boost the product development of celebrity-branded mobile games arm Xeleb Inc.
Apart from buying the remaining 35 percent stake in Fluxion to gain full control of this unit, Xurpas’ board approved the sale of a 67-percent stake in Xeleb to Fluxion, consolidating under one roof its vital product development resources.
“Xeleb has been a fast growing platform for us and we would always outsource its product development. We wanted to bring this in-house via the developers of Fluxion as there are next generation products for Xeleb that we need the additional development muscle for,” Xurpas co-founder and chair Nix Nolledo said.
With the full acquisition of Fluxion and the subsequent purchase by Fluxion of Xeleb shares, Xurpas can fully focus on the development of its celebrity-themed products and services.
“The move allows us to focus vital development resources on Xeleb’s next generation celebrity themed products and services,” said Xurpas co-founder and president Raymond Gerard Racaza.
The 35 percent additional stake acquired by Xurpas was valued at P45 million. The sellers were Fluxion president Suzette Facundo, Rolen Facundo and Hubert Ang, Fluxion treasurer.
Xeleb is engaged in the development, design, sale and distribution of celebrity-branded games and applications. It has produced mobile games featuring Anne Curtis, Isabelle Daza, Kuya Kim Atienza, Erwan Heussaff and Sarah Geronimo.
The 67 percent stake in Xeleb was ceded by Xurpas to Fluxion for P3.35 million.
Xurpas is currently reorganizing both Fluxion and Xeleb with the purpose of consolidating the development resources required for ongoing product development under Xeleb.
By folding Xeleb into Fluxion, Nolledo said: “we completely control the engineers and the development pipeline.”
Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.