Oberon Media Inc. today announced that it is about to acquire US company I-play, the world's fourth largest casual mobile games provider. Sources inform ''Globes'' that Oberon Media will pay $110-120 million for the company.
This is Oberon Media’s third acquisition in the past two years. The company has also announced that it has closed its third financing round from existing and new investors, including Lehman Brothers.
Oberon Media CEO Tomer Ben-Kiki, chairman Tal Kerret, and head of business development Ofer Leidner founded the company four years ago. The company has 300 employees, including 70 at its R&D center in Ramat Hahayal, Tel Aviv. Investors are Goldman Sachs Asset Management, Morgan Stanley Private Equity, Oak Investment Partners, Capricorn Management, and Zohar Gilon, the company’s first investor and a director.
Oberon Media develops, publishes and distributes PC, browser-based and mobile causal games. The acquisition of I-play is a strategic move, intended to make Oberon Media the leading casual games provider on multiple platforms. The company is growing by more than 100% a year.
Published by Globes [online], Israel business news - www.globes.co.il - on May 31, 2007
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