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Player X acquires Spanish games giant Gaelco Móviles

Story added: 16 Jul 2008 14:30

Recession? What recession?

Award-winning mobile media company Player X has made its first acquisition in the mobile space by buying Spanish mobile games publisher and aggregator Gaelco Móviles.

The acquisition will drive Player X’s expansion as a key player in mobile distribution and increase its footprint in the European market. Under the terms of the deal, Player X will pay an undisclosed cash figure for the total acquisition of the company and its assets. The team will remain unchanged in its Madrid base.

The strategic move coincides with the launch of the company’s new branding and organisational structure into two operating divisions, Player X Distribution and Studio X, the content arm of the company. Gaelco Móviles will join as part of the Player X Distribution division delivering content aggregation and portal management solutions.

Gaelco Móviles enjoys strong distribution in Southern Europe with a network that includes Telefonica, Vodafone, TMN, Optimus, Bouygues Telecom and WIND. The company is one of the main distributors in the region and has a growing influence in Latin America territories.

“This is the first in a raft of significant strategic moves for Player X and underscores our confidence in the health of the mobile games industry. Our acquisition of Gaelco means we will dramatically increase our distribution in Southern Europe and opens up another gateway into Latin America”, said Tony Pearce, Player X CEO.

"There is great synergy between Gaelco Móviles and Player X, both with strong heritage in the games market and extensive distribution experience led by content expertise. This relationship leads to a stronger position of the company in the key regions where we have presence. The combined efforts of Player X and Gaelco Móviles will have a significant impact on the industry”, said Josep Quingles, Founder, Gaelco Móviles.

Reporting by Costas Stephanides (Editor)

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