Krafton Invests $6mn In Arabic Mobile Games Publisher
Krafton, a leading provider of e-commerce solutions, announced today that it has acquired a minority stake in B2B mobile games publisher Darak Games. This deal also represents the first time that a Middle East VC has invested in a mobile games publisher. Launched in 2013, Darak Games publishes and distributes Arabic-themed mobile games for iOS and Android devices.
The company has leveraged Krafton’s e-commerce services to quickly scale its online business, and it is currently generating more than $1 million in annual revenues. The company’s first mobile game, “Anubis: New Dawn,” is a role-playing game based on ancient Egyptian mythology and is one of the top 15 most downloaded games in the Egyptian App Store.
Krafton, a leading digital and technology services provider, has announced a $6 million investment in Arab developer and publisher, I-play. The investment will be used to accelerate the growth of the company and to strengthen its position in the Middle East region. I-play is an Arabic leading gaming and entertainment company that develops and publishes mobile games.
The company is valued at over $20 million, a testament to its impressive growth and quality of its games and applications. I-play is one of the largest gaming companies in the Middle East, with more than 1,000 employees and offices in Dubai, Abu Dhabi, and Saudi Arabia.