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Xurpas acquires Singaporean firm

12 Dec

Xurpas Inc. (X) has taken the initial step towards its planned expansion in Southeast Asia with the acquisition of a Singaporean IT firm.

The company acquired a 21.7% stake in Altitude Games Pte Ltd., a Singaporean IT company in the business of mobile games development and publishing.

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Xurpas will be using a portion of the PHP 1.4 billion it raised from its initial public offering earlier this month to fund the acquisition.

It would have exclusive Southeast Asian distribution rights to Altitude’s games, beginning with the latter’s critically acclaimed game Run Run Super V launched locally this December.

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Posted by on December 12, 2014 in Corporate News, Stock Market, X

 

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