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Moto ventures makes gaming investment

Motorola Mobility, the spin off that houses Motorola’s device and home businesses has bought a stake in games developer Moblyng, through its investment arm Motorola Mobility Ventures.

Moblyng develops HTML5-based games for mobile devices and social networks, and has racked up more than nine million downloads, Motorola said.

The developer’s games have been published for Android, Facebook, iOS and WebOS platforms. The size of the investment was not revealed.

“Motorola Mobility Ventures seeks out the most innovative and promising new companies in which to invest, and we found a strong synergy between our vision for the future of mobile and Moblyng’s strategic direction,” said Harshul Sanghi, managing director of Motorola Mobility Ventures. “Moblyng was an early adopter of Android and is an industry leader in using HTML5 to bring cross-platform social gaming experiences to mobile devices. We look forward to accelerating the realization of their vision.”

While Motorola Mobility reported a GAAP profit for the fourth quarter of 2010 of $80m, the firm said earlier this year that it expects to make a loss of up to $62m for the first quarter of 2011.

Источник: telecoms.com

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