Mobile studio Outfit7 acquired by Chinese chemical firm in $1b deal

Could be one of the biggest foreign takeovers in Slovenia's history
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Mobile developers Outfit7 have been picked up by Chinese chemical firm Zhejiang Jinke Entertainment Culture. Outfit7 are best known for their virtual pet simulator Talking Tom, and had just released a version starring a talking dog called My Talking Hank.

The news was spotted by, who found the news reported out of Slovenia, where Outfit 7 has a satellite office, even though it's headquarters are in the UK. Reports are suggesting that a deal was finalised last month, valuing Outfit 7 at $100 a share.

Zhejuang Jinke Entertainment Culture is primarily known for the manufacture and sale of peroxide and activating agents, but their acquisition of a mobile games company isn't as unusual as you might think — Jagex was bought last year by a group of Chinese investors involved in a mining activities company and Chinese poultry firm Leyou Technologies bought UK outfit Splash Damage before that — but noteworthy is that if approved it's expected to be one of the biggest foreign takeovers in Slovenia's history, with the deal expected to cost $1b in total. Previously the company was majority owned by Sam and Iza Login, the studio's co-founders and chief executives.