CryptoLogic invests 8.5 million in Mikoishi

CryptoLogic has announced a USD 8.5 million investment in Mikoishi centered on winning Asian's emerging "casual and chance gaming" market.

The investment strengthens Mikoishi's position in the gaming industry and gives Mikoishi new opportunities to expand into new arenas, platforms and geographies with its own IP and to leverage on CryptoLogic's IP with premium brand partners, such as Marvel and Playboy.

CryptoLogic will additionally gain access to Mikoishi proprietary technology that expedites rapid and efficient development of popular games across the key platforms of PC, console and the massive Asian mobile phone segment.

"CryptoLogic is a compelling partner in Mikoishi's growth and expansion plans," said Irene Chua, CEO of Mikoishi.

"CryptoLogic's strengths are parallel to our own philosophy of developing high quality and localized entertainment products with strong original and licensed IP. This will allow us to accelerate our growth plans and enable us to reach out to other original IP holders," she added.

"At CryptoLogic, we expect Asia will move from being the dynamic casual gaming market of today to the dominant casual gaming market of tomorrow," said Javaid Aziz, CEO and president of CryptoLogic.

"To win in Asia, the capability to deliver and operate games across all the key gaming platforms is critical.

"With Mikoishi's specialization in online mobile entertainment coupled with their PC and console development capabilities, we are en route to building our business and presence in Asia."

CryptoLogic's investment of USD 8.5 million will be channeled to Mikoishi's local and international business expansion efforts. As part of the investment, CryptoLogic will have the option to increase ownership over time.