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.