Mobile game publisher and distributor Telcogames announced today that existing shareholder HLT (ASX: HLT) has increased it's stake in the company and acquired a 51% shareholding.
Telcogames will use the investment to increase the scope of it's operations and fund further global expansion. Establishing a local presence in key territories and increasing the level of account management are key goals for the company.
Telcogames is a publisher, distributor and aggregator of downloadable games for mobile phones. The company was founded in 2003 by Jamie Conyngham and Mark Ollila. Telcogames has a catalogue of over 600 mobile games, which are distributed in over 20 countries around the world.
Dr Mark Ollila, the chief executive officer of Telcogames, said, "The advent of downloadable games for mobile phones has created an entirely new global content market. Telcogames was created to address this new worldwide audience and has worked very hard to establish a presence across a large number of territories and enter many of the key markets which are emerging in this new media. The acquisition by HLT will allow the company to consolidate its presence in many of these territories and enable further expansion as the market continues to grow. It will also ensure that Telcogames can continue to offer the widest and most comprehensive catalogue of content in the world."
Mick Leahy, general manager of HLT said, "Mobile gaming has established itself as a viable new channel for content. Approaching this market on a global level requires an understanding of the wider market, combined with dedicated local presence in each major territory and the ability to offer content which will have broad appeal in each territory. Telcogames has achieved a great deal within it's first year and is now in a position to become a world leader in mobile game distribution as the market continues to grow."