Mumbai headquartered gaming company Games2win India Private Limited has acquired Backyard Game FactorRy, a casual games studion based in Delhi. The company did not disclose the deal size.
Backyard Game FactorRy was founded in 2010 and builds web and mobile casual games. Its promoter Rahul Jaiswal will continue to head the company.
“We are also quite keen to acquire additional game studios and game Companies in India who have an expertise in mobile and online games,” Alok Kejriwal – Co-Founder and CEO of Games2win.
Games2win raised $2 million from US based Clearstone Venture Partners two months ago. The investment was the company’s third round of financing in addition to a secondary sale of its shares to new investors last year.
Clearly, the new round of funding is going towards inorganic growth the company is chasing. “Given that we are rapidly expanding our teams and headcount, we found it viable to propose a 100% acquisition of Backyard Game FactorRy,” Kejriwal said.
The company raised $6 million from Clearstone Venture Partners and Silicon Valley Bank Financial Group in 2007.
Games2win then raised $6 million from existing investors in a follow on round in March 2011. A year later, Nexus India Private Limited, a few senior employees and ICICI Ventures sold 10 % of their stake in the company to Nirvana Venture Advisors.