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"Telecom group SingTel has acquired a 35.5 percent stake in The Mobile Gamer, a Singapore-based startup that creates, aggregates and distributes social video games for mobile devices.\r\n\r\nThe shares were purchased by SingTel through its wholly-owned subsidiary SingTel Idea Factory from The Mobile Gamer\u2019s founders. Worth US$1.5 million, it is understood that SingTel has the\u00A0option to purchase approximately 11.4 million shares (at US$0.087 per share) for an estimated US$0.98\u00A0million.\r\n\r\nThe announcement, as reported originally by SG Entrepreneurs, also reveals that Japanese telecommunications and Internet firm SoftBank has also acquired shares in The Mobile Gamer. It is unclear how many shares were purchased by SoftBank, although a document detailing the deal\u00A0later adds that once the acquisition is complete both SingTel and SoftBank will hold a 41 percent stake in the company.\r\n\r\nSingTel appears to be on a massive push to try to strengthen its influence on the mobile market. Only last week The Next Web reported how the company had spent US$26.5 million to buy Pixable, a \u2018mobile photo inbox app\u2019 with more than 4 million users.\r\n\r\nThe buyout follows an acquisition worth US$321 milion for advertising firm Amobee and US$9.4 million for HungryGoWhere, as well as a more modest contribution to a funding round by General Mobile worth US$5 million in total.\r\n\r\nFor an idea of how The Mobile Gamer operates, take a look at this presentation available on their website:\r\n\r\n\r\n\r\nImage Source: yeowatzup"^^<http://www.w3.org/2001/XMLSchema#string>
<http://thenextweb.com/insider/2012/09/25/singtel-continues-acquisition-spree-grabbing-third-the-mobile-gamers-shares/>