Animoca Brands Framework Publishing Agreement with Ourpalm Expected to Accelerate Acquisition of Intellectual Properties
Framework Publishing Agreement outlines cooperation between the Company and Ourpalm
Companies will jointly produce and distribute games under a revenue share agreement
Under the agreement the Company will seek to license additional brands and expand its brand portfolio
Framework Publishing Agreement is expected to increase the Company’s ability to acquire market-leading intellectual properties, and a number of leading brands have been identified
Hong Kong – 13 August 2015 – Animoca Brands (ASX: AB1 or the “Company”) is pleased to provide further information on its strategic partnership with Ourpalm Co. Ltd. (SHE:300315 or “Ourpalm”), following the signing of the subscription agreement, announced on 6 August 2015, in relation to the AU$3.1 million investment by Ourpalm subsidiary FingerFun (HK) Ltd.
The Company and Ourpalm have entered into a new Framework Publishing Agreement, which sets out the way in which the companies will cooperate when co-developing and distributing apps based on licensed intellectual properties (“IPs”). The Company’s growing portfolio of licensed IPs already includes Garfield, Ultraman, Paris Hilton, Doraemon, and other popular consumer brands.
As part of the Framework Publishing Agreement the companies have entered into a revenue share agreement for all apps developed in partnership and distributed through the Company globally or through Ourpalm in China.
The Company will continue to seek further licensing opportunities with market-leading IPs for use in its games, and it expects the agreement with Ourpalm will accelerate the Company’s ability to attract and acquire additional IPs.
Both companies have already begun seeking licensing opportunities and a number of market leading brands have been identified. The Company expects to provide further updates on these potential partnerships in the coming months.
Mr Robby Yung, CEO, of Animoca Brands, commented:
“I am extremely pleased to have in place this agreement with Ourpalm, which allows us to leverage their leading development and publishing abilities. By collaboratively developing and distributing products we expect our games to become increasingly popular, particularly in China thanks to Ourpalm’s distribution capabilities.
“We plan to continue to expand our licensed intellectual properties and expect this agreement to accelerate our ability to do so.”
About Animoca Brands
Animoca Brands Corporation Ltd. (ASX: AB1) publishes globally a broad portfolio of mobile games, including several games based on popular intellectual properties such as Garfield, Ultraman, and Doraemon. The company’s games have been downloaded over 140 million times. Animoca Brands is based in Hong Kong. For more information visit www.animocabrands.com.
Ourpalm was founded in Beijing in 2004 as a government licensed telecommunications and service provider. Strong background in web and mobile content have secured Ourpalm a place as one of China’s leading web and mobile game developers and publishers. In May 2012, Ourpalm made its first public offering on the Shenzhen Stock exchange (Ticker: 300315-CN). The Company primarily focuses on mobile and web game development and publishing and comprises of more than 2,000 talented individuals and has experience in game development and publishing for over 200 titles.