Xurpas acquires 31.51% stake in Singapore firm

LISTED technology firm Xurpas Inc. has bought a stake in Singapore’s MatchMe Pte. Ltd. in line with its strategy to expand its games portfolio in the country and overseas.

Xurpas said in a Philippine Stock Exchange filing Tuesday that it had acquired a 31.51-percent stake in MatchMe for $1.4 million.

The deal with MatchMe—which is into the development, licensing and operation of a mobile and web based, real-time, multiplayer platform for mobile games—would allow Xurpas access to larger markets overseas.

Under the agreement, Xurpas will be granted the license and right to use, integrate, publish, distribute, market and promote the MatchMe platform and its related game content.

It also gives Xurpas exclusive right to use MatchMe for telco deployment in the Philippines, Indonesia and Thailand, the statement showed.

“MatchMe is a truly unique offering, potentially allowing millions of players to play against each other on any device, anytime, anywhere. The platform allows us to provide a unique game playing experience to consumers in the Philippines, the rest of Southeast Asia, and worldwide,” said Nico Nolledo, president and CEO of Xurpas, said in the statement.

“We’re delighted to have such a strong and strategic partner as Xurpas onboard,” commented Hal Bame, co-CEO of MatchMe.

“The shared synergies and goals between our companies ring true on a variety of levels, not the least of which is bringing entertaining and competitive experiences to mobile and web-based gamers throughout Southeast Asia and beyond,” he said.

Nolledo said the deal would be financed using proceeds from the company’s initial public offering in late 2014, which raised P1.24 billion.