Acquires 20% of mobile game influencer
LONDON, 31st of January 2022 - Flexion Mobile Plc (Nasdaq: FLEXM), the Android games distribution company today announces it has signed an investment agreement with Liteup Media UG, a German start-up with a new and unique service for mobile game influencer marketing. Flexion has the right to acquire up to 40% of the company through directed share issue at an agreed fixed valuation of USD 2.5 million with an additional option to acquire the whole company from the founders in 2025 for a multiple of gross profit. Flexion will initially acquire 20% of the company for USD 500,000 through a directed share issue.
The influencer marketing space is estimated to be worth USD 13.8 billion and it is growing fast making it popular with mobile game advertisers. Liteup Media makes influencer marketing scalable, performance-based, and more accessible while providing mobile game developers with better tools for monetisation. This closes the gap between mobile performance marketing and influencers. The app-based service is currently in soft launch on Google Play. It is expected to launch fully on Android and iOS in early 2022.
Expanding its service offering for game developers is a key strategy for Flexion and with this investment the company takes a more significant step into influencer marketing with a new and disruptive model. Since the deprecation of IDFA on iOS last year, advertisers are actively looking at new ways to boost revenue for their games. This in turn has made influencer marketing even more attractive.
"There is no clear market leader in the fast-growing and fragmented influencer market which makes it ripe for disruption and consolidation. We are impressed with the Liteup Media team and their vision for influencer marketing. As with any early stage start up, there is a lot of hard work ahead. Flexion will add value by sharing experience, deal opportunities and developer relationships. We have
"We are thrilled to announce this investment by Flexion, a highly strategic partner for us in this fast-growing market. As one of the leading mobile gaming distributors on Android, Flexion's support will be fundamental as we set our sights on building the future of growth solutions for mobile games," says Aaron Baker CEO of Liteup Media.
For more information
Niklas Koresaar CFO, Email: email@example.com. Tel: +44 207 351 5944
About Flexion Mobile Plc:
Flexion offers a distribution service for free-to-play Android games. Using the service developers can distribute their games in multiple channels like Amazon, Samsung, Huawei, Xiaomi and ONE Store. These are channels that the developers are struggling to reach and support. At the core of Flexion's service is the patented enabling and enhancement software that converts developer’s existing Android games into specific game versions for the new stores without any work required by the developers. Flexion Mobile Plc is listed on Nasdaq First North Growth Market, Shortname: FLEXM. Certified Adviser is FNCA Sweden AB, +46(0)8-528 00 399, firstname.lastname@example.org.