Why does the mighty King of Dragons rage? You might say it’s in his DeNA (*rimshot*). Word recently came in that Japan’s mobile portal giant and e-commerce website provider, DeNA, has acquired a 20% stake in Crygames. Crygames is the developer behind the massively popular Rage of Bahamut action/trading card game.
Rage of Bahamut is one of the top-grossing games Google Play and the App Store. It’s a hit across North America, Europe, Korea, and in Japan, where it’s deployed via DeNA’s Mobage platform. DeNA has seemingly kept an eye on Bahamut’s success, and is buying a 20% stake in the game’s developer, Cygames.
DeNA reportedly paid 7.4 billion yen for its new real estate, which amounts to approximately $92 million USD. The acquisition will occur before the end of the year, and DeNA will buy the shares from Cyber Agent, which is Cygames’ current majority owner.
Well, it’s not unusual for a card game to offer high payouts. DeNA has been growing steadily, and yesterday it reported revenue of $627 million USD for Q2, up 45% from the same point last year. More importantly, its profits are up by 38 percent in the period ending September 30, coming in at $254 million USD.