Winking Studios Ltd, a Singapore-based video game services firm backed by Acer Inc., announced plans on Friday to acquire Shanghai Mineloader Digital Technology Co Ltd. The deal, valued at approximately CNY146 million (GBP16.3 million or $27.2 million), aims to strengthen Winking Studios’ presence in the Asian gaming market.
Shanghai Mineloader, one of Asia’s leading game art outsourcing and development studios, will receive an upfront payment of CNY131.4 million. The remaining balance will be paid five years after the transaction’s completion, contingent on meeting certain performance targets and conditions.
The acquisition will be funded entirely through Winking Studios’ internal cash reserves, with the company expecting to finalize the transaction before the end of the second quarter of 2025.
Founded in 2003 by Zhen Xu, Shanghai Mineloader has grown into a major force in the gaming industry. Headquartered in Shanghai, the company specializes in game art outsourcing across three major platforms and operates three studios across Asia. As of November 30, 2024, it employs 466 staff, reflecting its robust capacity to handle large-scale gaming projects.
Mineloader Studios has built up strong and long-term relationships with majority of its blue-chip gaming clientele that comprises 2K Games, Ubisoft, CAPCOM, Square Enix, Sony Interactive Entertainment, Electronic Arts, and Tencent Games, among others. With its established experience in the Japanese market and strengths in console games platform, Mineloader Studios is well-positioned to bolster Winking Studios’ global M&A strategy.
Winking Studios, listed on the Singapore and London stock exchanges, views this acquisition as a key step in its growth strategy. By integrating Mineloader’s proven expertise and resources, Winking Studios aims to enhance its service offerings and tap into the expanding demand for gaming services in Asia.