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Moai Acquired by UI Magic

November 10th, 2006 by Arjan Olsder Posted in Companies & M&A | 1 Comment »

QB points us to the news that Moai has been acquired by UI Magic. Moai is based in Korea where it focuses primarily at connected/multiplayer games for their home market. UI Magic bought the total shares of the company, but financials where not disclosed.

“We are very excited to have Moai Technology as part of UI Magic. This acquisition will enable us to move into the real-time mobile networking gaming segment, which we expect will have huge potential in the US. The strategic sales/marketing channels with existing major Korean carriers and other global carriers that Moai will be brining to the table will prove to be a significant asset,” stated Satoru Yukie, President and CEO of UI Magic. Yukie continued, “The Mobile gaming segment in the US is growing at an unprecedented rate. Experts believe the market size will exceed $1.5 billion by end of 2009. Nevertheless, there aren’t any true real-time mobile network games available in the US market. Our 100% owned subsidiary Moai will be introducing a handful of real-time mobile games including Massive Mobile Online Role Playing Games (‘MMORPG’), which can cater to as many as 500 simultaneous game users. It is our strong belief that the US market and US consumers are ready for these types of real-time, mobile network games.”

“We are very pleased to be a part of UI Magic, Inc. I truly believe the mobile gaming know-how and experiences that we have accumulated over the period of 4 years will be pivotal assets for UI Magic going forward. Additionally, I can foresee huge synergy and arbitrage opportunities being generated as a result of this cross-border consolidation,” stated Harry “Jun Hwa” Chang, CEO and President of Moai Technology.

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This entry was posted on Friday, November 10th, 2006 at 5:14 pm and is filed under Companies & M&A. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.