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

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 PocketGamer.biz, 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.