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DeNA buys 20% stake in Rage of Bahamut developer

By Matt Martin

DeNA buys 20% stake in Rage of Bahamut developer

Wed 07 Nov 2012 8:52am GMT / 3:52am EST / 12:52am PST

Mobile gaming company spends $92m on development team

Mobile gaming giant DeNA is buying a 20 per cent stake in Rage of Bahamut developer Cygames for approximately JPY 7.4 billion ($92m / 57m).

The title has been a big hit for DeNA, taking number one positions on the top grossing Google Play and Apple App Stores across Europe, the US, Korea and Japan.

The acquisition will complete before the end of the year, with DeNA buying the shares from Cyber Agent, the current majority owner of Cygames.

Yesterday DeNA reported sales of $627 million for the second quarter, with profits of $254 million.

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