The big-money merger with Global Services Partners Acquisition was revealed last week, a transaction which is made up of five million shares of common stock and $5 million cash – leaving the publisher valued at $31 million. The newly-flush firm said that now it intends to use the cash injection to expand its publishing operations over the next two years.
“We’ll primarily be focusing on expanding our catalogue and building on the momentum we’ve developed over the last two years to strengthen our position,” Melanie Mroz, CEO of SouthPeak Interactive Corporation told MCV.
“Already, our 2008 catalogue is filled with titles and we’re sure 2009 will be even bigger for SouthPeak.
“We’ve always had the drive and means to be competitive within our sector. Now we have a rock-solid base on which to develop our publishing operation and serious expansion is entirely possible. For us, the sky really is the limit.”
When asked, Mroz refused to rule out using SouthPeak’s new cash stockpile for publisher or developer acquisitions.
“We will always consider any opportunities presented to us, but our real focus is to work with independent studios who have innovative and compelling games,” she added.
“For now, publishing is our aim, rather than bringing as much as possible in-house.”