Funnel Japan denies Reliance acquisition; Reliance clarifies

Update: MCV has received a clarification from Reliance, which confirms that the acquisition has indeed indeed taken place.

"The information posted on the corporate website of Funnel is the result of certain misapprehended news stories that were reported in Japan stating that ‘Reliance Big Entertainment has acquired Funnel Japan’,whereas we have acquired themobile gaming divisionof Funnel Japan, thereby creating Reliance Games Japan,"CEO of Reliance Entertainment Digital Manish Agarwalsaid.

"We have taken the matter up with Funnel’s management and I am certain that the misunderstanding will be resolved."

Original story: A few days ago, Reliance announced that it had acquired game companies in Korea and Japan. The Japanese company in question – Funnel Japan, has now denied any such acquisition.

We have received sources of articles from the internet where it has been announced that a company in India, known as Reliance, has fully acquired the game division of Funnel, Inc. in Japan. Please note that such information are completely wrong and unverified,” a post on Funnel’s corporate website said.

We request all media and partners to stop circulating such news if they come across it. Funnel is currently investigating on this matter,” the statement said.

Reliance had earlier announced the acquisition of the gaming division of Funnel Japan along with its team and all IPs under development, adding that the company would be involved in development and publishing of games for the Japanese market under the name of Reliance Games Japan.

In Korea, Reliance has bought a 51% majority stake of Busan-based studio Bluesom Inc, adding that it has also acquired a a few” of Bluesom’s IPs.

We’ve contacted Reliance for clarification on the Funnel acquisition deal.

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