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Streamplay Studio Ltd (ASX:SP8) expanding its footprint in North America with the acquisition of Canada-headquartered indie gaming company Noodlecake Studios Inc.
The company has entered a binding Share Sale Agreement (SSA) to take on Noodlecake from its parent company Zplay (HK) Technology Co. Ltd, with the acquisition reflecting a desire to move more strongly into North American gaming.
Last month, Streamplay appointed Silicon Valley tech advisor Paolo Privitera to its board of directors, further underscoring this direction.
Noodlecake is a valuable acquisition in terms of its own portfolio. It has more than 60 in-house and published games, and has achieved more than 270 million downloads since its establishment in 2011, in addition to forging partnerships with Apple, Google, Xbox,
PlayStation, Nintendo, Steam, and other tier-one brands.
Its games include ‘Yes, Your Grace’ – which was voted Best Indie Game on GooglePlay for 2024 – the multiplayer ‘Golf Blitz’ and ‘Alto’s Odyssey,’ the latter receiving an Apple Design Award in 2018 for its artistry and gameplay.
In financial terms, the story is also strong: Noodlecake brings in around A$42 million through its main monetisation channels, with additional revenue from other sources. Its annual revenue was approximately A$7.3 million for the year ending December 31, 2023.
Streamplay shares spiked upwards on the news, and at 11:28 AEDT, they were trading at 1.6 cents – a rise of 45.45% since the market opened.
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