SundayToz Acquires Mobile Game Company Flysher 2021-10-14
■ SundayToz signs a stock transfer agreement to acquire an 84% stake in 'Flysher', a social casino developer
■ Flysher, a social casino developer that continues to grow with sales of $12.7M and an operating profit of $1.4M in the first half of 2021
■ SundayToz expects synergy effects such as technology and service cooperation with its subsidiary Play Links and expansion of overseas markets
[2021-1014] SundayToz (CEO Kim Jeong-seop, www.sundaytoz.com) announced that it had signed a stock transfer agreement with mobile game company Flysher (CEO Lee Pil-ju).
This acquisition is a contract to acquire an 84% stake and 33,297 shares of Fleischer to strengthen the overseas social casino business that SundayToz is nurturing. The acquisition amount of SundayToz, which will be named Flysher's largest shareholder, is $30.6M, the most significant amount of investment and acquisition since the establishment of SundayToz. SundayToz explained the stable business expansion and various synergies through collaboration with its subsidiary Play Links (CEO Im Sang-beom) in the social casino market, which is facing a new growth period, as the background of this acquisition.
Flysher CEO Lee Pil-ju also said, "We will be able to maximize synergy and sales from both companies. SundayToz's unique in-game advertising business and Play Links' Facebook instant game market that does not overlap with Flysher's main market, the overseas will make great synergy."
Flysher, established in 2014, is a mobile game company specialized in the social casino genre, recording $25.6M in sales and $1.1M in operating profit last year, mainly in overseas Google and Apple open markets. The company is continuously growing with sales of $12.7M and an operating profit of $1.4M in the first half of this year. Flysher's main game is Rock N' Cash Casino, an app-based social casino that operates 200 slots. Localization services for each region, services based on a vast customer pool, and response data are considered Flysher's strengths.
"Flysher is the best partner to grow together In the overseas social casino market where continuous growth and fierce competition are increasing. The synergy will double Play Links. SundayToz also expects to strengthen its competitiveness through overseas sales and profit expansion along with the development of subsidiaries" said Kim Jeong-seop, CEO of SundayToz.
SundayToz and Flysher plan to start full-scale collaboration from mid-November when the acquisition process is finalized.