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Video games development company Winking Studios has proposed to acquire game art outsourcing studio Mineloader Digital.
Winking Studios said it will fund the acquisition using its internal cash resources, with a total consideration of ¥146 million ($27.2m). An upfront payment of ¥131.4m ($24.5m) will be made, with the remaining balance paid after five years if specific conditions are met and certain results are achieved.
The firm said it would complete the deal once certain requirements were met, which are expected to be fulfilled by the end of the second quarter of 2025. Winking Studios is based in Singapore and offers art outsourcing, game development, and publishing services across nine studios in Asia, employing over 800 staff.
Headquartered in Shanghai, Mineloader was founded in 2003 and currently has 466 employees across three studios in Asia. Its revenue mainly comes from game art outsourcing, especially for console titles. The company is led by “industry veterans with extensive past experience from top Japanese gaming companies.”
An ambitious drive
“This marks our largest acquisition to date and represents a pivotal step that augments our position in the global video games industry, unlocking new horizons for growth and innovation,” said Winking Studios’ executive director and CEO Johnny Jan.
“Game art is essential in a video game’s development, serving as the visual foundation and creative ingenuity that engages players and shapes their gaming experience. Mineloader’s established experience and presence in the Japanese market is also a notable value add to our group’s business networks,” he added.
“Driven by our global ambitions, we will continue to proactively explore new M&A opportunities to enhance our value propositions across the value chain of the global gaming services industry, delivering cost-effective solutions for our Western and Asian gaming clients in different market segments.”
