Seattle-based mobile game publishers Reaxion and Mobliss are merging in a stock-swap deal that was supposed to close earlier this summer.
The new company will operate with the Mobliss name (legally, but not brand-wise), with Reaxion boss Colin Prior as chairman and chief executive officer.
UPDATE: Wires crossed here – Prior clarified that Mobliss is “the surviving entity from a legal side,” but the business will operate under the name PressOK Entertainment.
Combined, the company should be profitable with sales over $4 million this year, he said.
The combined game output will increase from eight to 12 games a year. Mobliss is known for games developed for major brands such as “Deal or No Deal,” “Family Feud” and “The Price is Right.” Reaxion has produced its own titles and built a services business, porting games to multiple platforms for other companies.
At the start of the year, Mobliss employed 23 in Seattle and Reaxion had four. The combined company now has seven employees in Seattle, plus about 30 at Reaxion’s development centers in Moscow and Minsk, Russia.
Prior said the two companies have been “sharing infrastructure” for three months while the deal was finalized with the three Japan-based shareholders in Mobliss. The valuation of the company wasn’t disclosed but he said it’s a “50-50 stock split.”
Consolidation in the competitive industry could lead to the merged company being acquired at some point, Prior said.
“It’s survival of the fittest,” he said.