gumi Inc. Acquires Shares of Blockchain Game Developer double

Published : Wednesday, June 26, 2019, 9:02 pm
ACROFAN=Seunghee Shin | | SNS
gumi Inc. today announced that through its subsidiary, gumi Cryptos Inc., it has acquired shares of double from DLE Inc. gumi first entered into a capital and business alliance with the double in December 2018. Today's acquisition announcement reflects its efforts to further strengthen the partnership between gumi Cryptos and double and expand its blockchain game business.

As part of the acquisition, acquisition agreement, gumi Cryptos received 891 of non-voting shares from DLE with the price of ¥200,500 per share for a total consideration of ¥179,536,500 (shareholding percentage: 22.61%).

In 2018, gumi's consolidated subsidiary, gumi X Reality Inc., which changed its trade name from gumi VR Inc. to gumi X Reality Inc., acquired 1,760 shares of double (shareholding percentage: 44.67%). These shares will be transferred to gumi Cryptos Co., Ltd. on July 1, 2019. After the share transfer, gumi Cryptos will hold 67.28% of the shares of double Since some of the shares held are non-voting, double does not fall under an affiliate of the company of gumi.

Founded in 2007, gumi Inc. set out to become the world's No.1 entertainment company in the information revolution through offering new amusements and richness in everyday life. gumi Inc. has focused on increasing its earning capacity of mobile online game business, which is its current main revenue source, and expanding its business by entering in early stage VR/AR businesses, blockchain businesses and other new businesses. For its blockchain business, gumi aims to make strategic alliances with companies offering new technologies inside and outside of Japan, mainly by capital injection via gumi Cryptos to obtain future income sources.

Double is a leading game development company in the blockchain industry, having launched My Crypto Heroes, which went into its pre-sale period on September 21, 2018. In its first 24 hours, the game achieved the number one ranking for the quantity of Ethereum transactions in Decentralized Applications Game (DApps game), which includes games on distributed application, and live on blockchain platform. Also, after the launch of My Cryptos Heroes on November 30, 2018, in DApps game, it achieved number one in first day daily active users (DAU) and in the quantity of Ethereum transactions, taking the lead in the blockchain gaming industry. Partnering with gumi Inc. is the natural next step in double’s growth as they look to expand globally and break new ground in the blockchain industry.

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