Phoenix Games Acquires PopReach Games India and Its Extensive Games Portfolio

Karlsruhe, Germany, April 29, 2024 | Phoenix Games, a global gaming enterprise specializing in the acquisition and enhancement of game studios, is thrilled to announce the acquisition of PopReach Games, a live operations studio based in Bengaluru, India, from Ionik for a total aggregate purchase price of up to US$9.8 million, financed from cash reserves. Together with the studio, Phoenix takes over a broad portfolio of free-to-play games that boasts more than 420 million lifetime downloads.

This transaction substantially diversifies the Phoenix portfolio by including globally recognized IPs and beloved free-to-play titles on different platforms, such as Smurf's Village, Smurf's Magic Match, Gardens of Time, Kitchen Scramble games, Kingdoms of Camelot, and War of Nations as well as the Brain Training app Peak..

The acquisition of PopReach Games India strengthens Phoenix Games’ global presence and adds a dedicated workforce of more than 100 employees from the Indian studio.

“The acquisition of PopReach Games signifies a remarkable enhancement of our portfolio, introducing not just a team of 100 passionate professionals but also a suite of globally acclaimed IPs and games that continue to captivate millions,” states Klaas Kersting, CEO of Phoenix Games. “We look forward to elevating these games to new heights with our proprietary Uplift platform and exciting new game experiences that we can craft around them.

Echoing this sentiment, Jairaj NS, General Manager at PopReach Games India, shares, “I am excited about joining forces with the stellar team at Phoenix Games. This marks the beginning of an exciting journey we can't wait to embark on with Phoenix as our new home. This is great news for all the stakeholders, especially for the millions of our loyal players across the globe. I am happy we have found a new ideal home for our globally acclaimed games. This partnership enables us to continue pouring our hearts and souls into creating unforgettable experiences for our players worldwide and create value for stakeholders.”

Ted Hastings, CEO of Ionik, adds: "It's truly remarkable that we've discovered the perfect home for our former games division, PopReach Games India, with Phoenix Games, ensuring a promising and successful path ahead. This strategic move enables us to turn our full attention to our core responsibilities".

Based in Karlsruhe, Germany, Phoenix Games boasts an impressive lineup of studios, including Upright Games, Sixteen Tons Entertainment, Well Played Games, Smileygamer, and the recent addition of Canadian developer Sad Panda Studios in November 2023.

Utilizing its proprietary Uplift platform, Phoenix Games enhances the financial performance and reach of the titles of acquired game studios, providing their expertise in user acquisition, ad monetization, and live operations to ensure an economic upswing.

About Phoenix Games

Phoenix Games is a globally operating games company specialized in acquiring and enhancing game studios. With its proprietary AI-based Uplift Platform and by adding know-how, talent and resources to a portfolio of fully-owned studios, the company ensures an improved reach, performance and monetization of the studios' existing games. This enables founders to transcend industry barriers and reach the full potential of their games and intellectual property. As we expand, Phoenix Games is on the lookout for game development studios with live portfolios, eager to extend their reach and unlock their potential.

Discover more at www.phoenixgames.com.

About Ionik

Ionik, a Tier 1 Issuer on the TSX Venture Exchange, with shares also trading on the OTCQX Best Market, is a data driven marketing technology company focused on assembling the most effective and complete suite of advertising, marketing and monetization solutions for brands, advertisers and publishers while building an extensive proprietary repository of opted-in first party data. 

Additional information about the Company is available at www.sedarplus.ca.