Canadian interactive TV game publisher
TransGaming has acquired the TV game division assets of Oberon Media, a publisher of casual games, for $7 million.
Toronto-based TransGaming said the deal would bring it a recurring multimillion-dollar annual revenue stream generated from Oberon’s distribution agreements with a number of makers of “smart TVs,” or televisions that are connected to the internet and are capable of playing casual games.
The deals give TransGaming access to more than 50 million households with connected TVs, giving the company one of the largest connected TV markets in the world. That’s in addition to many millions of other households that TransGaming already reaches.
The deal adds a catalog of 100 games to TransGaming’s GameTree TV portfolio. The titles include Tetris, World Poker Tour, and Deal or No Deal. Under the GameTree TV brand, TransGaming lets users play simple titles that can be played with a remote control.
The $7 million includes $3 million payable upon closing, $2 million in earn-outs based on revenue targets, and the issuance of 4 million shares of TransGaming.
With the Oberon deal, “TransGaming cements its position as the clear leader in the delivery of video games to the connected living room,” said Vikas Gupta, chief executive and president of TransGaming. “We now have the ability to reach the hundreds of millions of set-top boxes currently deployed in living rooms globally.