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 PG.BIZ NEWS

GREE bought OpenFeint for 368 times annual revenue

Games network made just $282,500 in revenue in 2010

Product: OpenFeint
 
OpenFeint PG.Biz, thumbnail 1
What exactly motivated GREE's buyout of multiplatform gaming network OpenFeint?
 
The suggestion that the Japanese firm's move was, in part, fueled by a desire to gain ground on its close rival DeNA has certainly gained credence with the news that GREE technically paid well over the odds for its target.

In fact, OpenFeint's $104 million price tag looks to have come in at 368 times the company's annual revenue rate.

Matter of worth

Digging into OpenFeint's financials for 2010 – released in Japan by law as part of the deal – GamesBrief has discovered that the network made $282,500 in revenue in 2010.
 
The games network also posted a net loss of $6.6 million across the course of the year.



Of course, OpenFeint's value to GREE goes far beyond its current incomings and outgoings.

With more than 75 million registered users across Android and iOS, mainly focused in the US and Europe, GREE now has a major hand in one of the most powerful mobile social gaming platforms in the west.

OpenFeint has also built up a strong relationship with the development community, with its platform utilised by 19,000 studios and counting across a total of more than 5,000 games.

Nevertheless, with the lid lifted on OpenFeint's current financial standing, GREE's move for the firm is unlikely to be have been sparked by a desire to make a quick buck or two.

[source: GamesBrief]
 

Reviewer photo
Keith Andrew 29 April 2011
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