Changyou, China’s online game developer and operator, and “Dolphin Browsers” developer MoboTap Inc., today jointly announced that they have entered into a definitive investment agreement pursuant to which Changyou has bought 51% of the equity interests in MoboTap on a fully-diluted basis, for cash consideration of USD 91 million. In addition, Changyou has provided USD 30 million in funding to MoboTap by purchasing a zero-coupon convertible bond due in five years.
ChangYou started its operations in India in August 2012, and launched its flagship product “Mobogenie” in July 2013. Mobogenie currently reaches out to over 400 million users globally and has over 42 million user base in India.
Alex Qian, Managing Director, ChangYou India, said, “The acquisition of Dolphin Browser is solidifying the base of ChangYou’s mobile internet strategy in India. As of today, ChangYou has deployed wide portfolio of products: Mobogeine, Weplay, CLauncher, Assistive touch etc. In India, Mobogenie has over 2 million daily active users and we believe that it will further grow at a strongpace. Our product range covers application marketplace, game store, mobile launcher; community, utility and productivity applications”.
From India, Mobogenie receives over 10 million daily application download requests from its user base and has an SSI of 29.9 %. For more localized approach, Mobogenie is available in 12 local languages in India.
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