25 Sep '12, 11am

SingTel has acquired a 35.5% stake on our i.JAMee TheMobileGamer for US$1.5M!

SingTel acquires 35.5% stake in TheMobileGamer for USD 1.5M September 25, 2012 by Terence LEE SingTel announced today that it has acquired a 35.5% stake in Singapore-based TheMobileGamer (TMG) , a startup that aggregates, distributes, licenses and develops mobile gaming software. The shares were purchased from the founders of TMG via SingTel Idea Factory, a wholly-owned subsidiary of SingTel. It also has the option of purchasing more than 11.4M in Series B preferred shares at USD 0.087 each. SingTel also said that Japanese telco SoftBank will also acquire shares in TMG with the same terms. By the time the acquisition is complete, SingTel and SoftBank will each hold a 41% stake in the company. The Singapore telco has been performing a wave of acquisitions lately. Last week, it purchased New York City-based mobile company Pixable for USD26.5M. That followed acquisitions of E...

Full article: http://sgentrepreneurs.com/2012/09/25/singtel-acquires-35...

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