[Asia Economy Reporter Kang Nahum] SundayToz is acquiring Flysher, a social casino game developer.
SundayToz announced on the 14th that it will acquire 84% of Flysher's shares, totaling 33,297 shares, to strengthen its overseas social casino business.
The acquisition amount for SundayToz, which will become the largest shareholder of Flysher, is 36 billion KRW, marking the largest investment and acquisition amount since the company's establishment.
SundayToz explained that the background of this acquisition is to achieve stable business expansion and various synergy effects through collaboration with its subsidiary Playlings in the social casino market, which is entering a new growth phase.
After signing the stock transfer agreement, SundayToz and Flysher plan to begin full-scale collaboration from mid-next month upon completion of the acquisition process.
Founded in 2014, Flysher is a mobile game company specializing in the social casino genre, primarily operating in overseas Google and Apple open markets. Last year, it recorded sales of 30.1 billion KRW and an operating profit of 1.3 billion KRW. In the first half of this year, it continued its growth with sales of 14.9 billion KRW and an operating profit of 1.7 billion KRW. Its main game is the app-based social casino Lock & Cash, which operates 200 slot machines.
In particular, localized services by region and area, extensive customer base services, and responsive data are considered Flysher's unique strengths.
Kim Jungseop, CEO of SundayToz, said, "In the overseas social casino market, where continuous growth and fierce competition are expanding, Flysher is the best partner to grow together by multiplying synergy effects with Playlings. SundayToz also expects to strengthen its competitiveness through nurturing subsidiaries and expanding overseas sales and profits."
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