Green Packet unit, Beijing TalentWalker's Funsea in digital content venture


Green Packet Bhd's unit has teamed up with Funsea Entertainment Co. Ltd to offer digital content such as games, movies and music to telco operators or master content providers in Asean.

KUALA LUMPUR: Green Packet Bhd's unit has teamed up with Funsea Entertainment Co. Ltd to offer digital content such as games, movies and music to teleco operators or master content providers in Asean.

It said on Tuesday its unit NGT Networks Ptd Ltd had inked the JV agreement with Funsea, a subsidiary of Beijing TalentWalker Interactive Entertainment Co., Ltd (BT) which had built one of the largest smartphone game distribution channel serving in Asean, South Korea and Taiwan. 

They will set up a JV company, Packet Interactive Entertainment (M) Sdn Bhd (JVC) with NGT taking a 40% and Funsea 60% equity interest. Each party has been designated clear obligations to operate the business and to maximise shareholder value. 

As part of the strategic partnership, NGT will be primarily involved in providing local sales, partner and administration support. 

The group was chosen as Funsea’s partner due to its strong customer base with most of the telcos in the Region thus allowing the Group to effectively market and distribute mobile games.
 
On the other hand, Funsea will inject its industry knowledge, expertise and platform which includes strategic business development support by leveraging on its intellectual technology and system. Funsea will also provide its own content and negotiate with its best effort for third party content for the JVC.

Green Packet said Beijing TalentWalker is a leading smartphone game developer and publisher with over 70 partners in the gaming industry.

It has developed and published more than 100 social and smartphone games on various platforms worldwide. 

BT is an affiliate company of Shenzen-listed Zhejiang Dilong Cultural Development Co. Ltd. with a market capitalisation of 6.75bil renminbi (RM4.12bil). 

Green Packet group CEO and executive director Tan Kay Yen said the JV agreement with Funsea would enhance its involvement in content creation and distribution, particularly in Asean.

He said one of the biggest beneficiaries of the growing digital economy in Southeast Asia is the mobile gaming industry which has flourished in the past decade and will continue to grow even further.  

“We cannot ignore the growth of content services across the Southeast Asian region especially with the exponential growth in mobile and internet penetration numbers,” he added. 
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 0
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!
   

Next In Business News

Malaysia's official reserve assets at US$114.65bil as at end-Dec 2022
Bursa, Asian stocks fall as earnings announcements, rate hike fears weigh on sentiment
Masteel first steel mill listed on FTSE4GOOD Bursa
Chinese industrial profit contracts in 2022 on Covid woes
China economic activity swings back to growth in January - official PMI
Bullish outlook on Sunway REIT continues in 2023
Ringgit slips ahead of US interest rate decision
Construction firm Vestland makes firm debut on ACE Market
Bursa tumbles on US market decline as Fed decision looms
Trading ideas: YTL Power, PGF capital, Ajiya, Sunway REIT, Chin Teck Plantations, Uzma and TRC Synergy

Others Also Read