- Secures first round investment funding since its rebirth via an MBO from Gobi Partners
- Acquires a strong line-up of exclusive distributorships of global blockbusters for SE Asia, HK and Taiwan
- Entrenched in the social media and social network games especially on the mobile platform
Singapore, 20 March, 2013 - IAH Games, a leading Southeast Asia online games operator and distributor headquartered in Singapore, has made its comeback with a bang!
Just six months after the rebirth of IAHGames via a successful management buy-out (“MBO”) from its key shareholder NASDAQ-listed Taiwan-based Gigamedia Ltd (“GIGM”), IAH has secured new partnerships and bagged several blockbuster game titles as it repositioned itself to join global gaming giants.
These game titles are programmed to wow its gaming fans – numbering some 35 million in Southeast Asia.
The completion of its MBO in August 2012 has put the ownership and control of the company firmly back into the hands of his management team headed by Roland Ong, IAHGames group CEO, a well-known veteran in the gaming industry.
The new shareholders of IAHGames are essentially its management team controlling 80% of the company. His key management team include Eldwin Wong (Group Chief Operating Officer and Chief Financial Officer), Jonathon Sze (Director, Games Management), Jason Wong (Country Chief Executive Officer, Singapore and Malaysia), Leu Teck Chung (Chief Technology Officer), Enrique Gonzalez, Managing Director, CEO and President of the publicly-listed company, IPVG Corporation, Hassan Moosa (Country Chief Executive Officer, Indonesia), Alan Leung (Country Chief Executive Officer, Hong Kong) & Prajya Sawasdinavin (Country Chief Executive Officer, Thailand).
Mr Ong said, “We are now fully in charge and have plans for accelerated growth in the region. With a population of more than 50 million gamers in the region and this number is still growing, there is enormous expansion potential for IAHGames.”
He added, “We want to be a global player in the fast-growing online games industry and have sealed a number of high-level strategic partnerships and funding options to realise our business goals.”
Secured Institutional Funding from Gobi Partners
IAHGames has recently secured S$2.5million in first round funding from institutional investors led by Gobi Partners (“Gobi”), a venture capital firm with its headquarters and incubation centre in Shanghai, and additional offices in Beijing, Hong Kong, Tianjin, and Singapore. A leading investor in early stage digital media and technology companies in China, Gobi manages four funds with over US$300 million under its management. Since its establishment, Gobi has funded around fifty early to traction stage companies and continues to invest actively in the region.
Ku Kay Mok, Partner of Gobi Singapore said, “We believe the new management of IAHGames to be innovative and dynamic, and that we are proud to be associated with. We believe it has tremendous growth potential given its long-established relationship with top-tier, global game companies and the slate of blockbuster titles it has secured. With our wide networks and capital resources, we intend to help IAHGames build up its brand as well as expand its reach in the region. We are excited to play our part in helping another promising local SME scale up and potentially become a global player.”
Gobi has an extensive network of key strategic investors which include: IBM, McGraw-Hill, Nokia Growth Partners, NTT DoCoMo, Sierra Ventures and Steamboat Ventures. Gobi has also a bevy of distinguished government partners including the Shanghai Pudong Science and Technology Investment Company, the Tianjin Hi-Tech Group, and the Singapore Media Development Authority (MDA).
New Partnerships with Gaming Giants
In recent months, IAHGames has sealed a number of key partnerships with global gaming giants. These include Taiwan-based Softworld International, MacroWell OMG, and China-based DreamSquare for our newly launched games New Gulong Online, Legend of Crystal Bella, and New PAL Online. IAHGames has secured exclusive games distributorships in Southeast Asia with them.
Softworld International Corporation is a multinational online game company founded in 1983 and is the first Taiwanese game company to be listed on TWSE in 2001. With diverse businesses, Softworld and its subsidiaries formed one of the biggest game groups in Asia. Softworld currently focuses on the development and distribution of online games such as MMORPG (Massive Multiplayer Online Role Playing Game) and has its operations in Taiwan, Hong Kong, Macau and Southeast Asia and is expanding globally.
Dream Square is a leading online games company, which is dedicated to developing and publishing online games based on browser, social and mobile platforms. Established in 2009 in Shanghai, Dream Square has developed and published several popular titles, including Dream Sanguo, New PAL Online, Foxli Rush, I Love Coffee and Qin's Moon etc. Dream Square has won numerous prizes and is widely regarded as the top competitive online game enterprise in Mainland China.
During the Taiwan Game Show held in January 2013, IAH also signed a new game - Legend of Crystal Bella. It is a full 3D MMORPG developed by Macrowell OMG’s development studio, Me2. Macrowell OMG is a Taiwanese listed game publishing and development company with market cap of TWD 3,126 million (about SGD 130 million).
New Line-up of Game Titles
IAHGames has a new exciting line-up of more than 10 titles in 2013. Games secured on an exclusive regional distributorship basis, include SuperStar Live, Xin XianJian or New PAL Online, Legend of Crystal Bella, Red Blood Online, Cabal Card Game Online, Boom Sky Online and New Gulong Online. IAHGames will also market and distribute live game services such as HeroZero, Heroes In The Sky and at least 4 other titles from Funnel Asia.
New PAL Online and New Gulong Online are two of the world’s most popular games based on Wuxia or Chinese martial arts novels. Both are mega-epics with complex and treacherous plots. Xin Xianjian Online has already attracted 50,000 gamers since its CBT launch in November 2012. New Gulong Online’s CBT will start in the first quarter of 2013. Legend of Crystal Bella is one of the first online games with its own complimentary mobile application.
IAHGames’ CEO Roland Ong sees much brighter prospects ahead. He said, “Southeast Asia, which is expecting to have 117 million gamers and estimated games revenue of US$1 billion by 2016, is a lucrative market for us to expand into and we are already making headway to achieve our goal of being the dominant gaming company in the region.
He added, “With the assured confidence that our partners who are iconic leaders in their respective territories, have in us, IAHGames is well-placed to leverage on the enormous growth trajectories in the regional gaming arena. We will also be concentrating a lot of our efforts and resources to build up our portfolio of commercially-successful games.”
To fuel its expansion plans, IAHGames has appointed Islamic Bank of Asia (IB Asia) as its financial adviser for strategic alliances and capital raising. IB Asia, which is incorporated in Singapore, is focused on merchant banking activities.
As part of its strategic expansion plans, IAHGames will also explore the launch of new games for smart mobile devices in its product portfolio which currently comprises mainly online PC games and console games.
The mobile games market is expected to chalk up rapid growth as it will likely outpace online PC or console games. Gamers can expect IAHGames to introduce more mobile games soon.
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About IAH Games
Headquartered in Singapore, IAH Games is a leading publisher, operator and distributor of interactive entertainment. The company operates award-winning titles including Granado Espada, Counter-Strike™ Online, SuperStar Live, FairyLand 2, Dan Dan Tang, and Sevencore. One of the first online game companies in the world to receive ISO 9001:2000 certification for “Distribution and Operation of Online Games”, IAHGames executes a unique “One Market, One Asia” strategy that offers developers and publishers a one-stop distribution service for multiple countries.
For more information on IAHGames, please visit:
Release issued on behalf of IAHGames by
Stratagem Consultants Pte Ltd
For more information, please contact:
Tham Moon Yee/ Lee Yew Meng/ Lucas Yang Xiao Guang
Tel: 6227 0502