My.Games has purchased a minority stake in hyper-casual mobile developer-publisher Mamboo Games for an undisclosed fee.
The deal will enable My.Games, which is the video game arm of Russian company Mail.ru, to expand its hyper-casual department, and comes days after the company nabbed a controlling stake in mobile studio Deus Craft for $49.1 million.
Based in Belarus, Mamboo was only founded in 2020 but has secured over 10 exclusive contracts with studios to provide them with a range of services including user acquisition systems, project dashboard access, predictive ad monetization models, and marketing analytics.
My.Games chief marketing officer Elena Grigoryan said the consistent growth of the hyper-casual market, which is reportedly worth $1.2 billion as of this year, convinced the company to invest in Mamboo.
“The volume of the hyper-casual games market continues to rise every year, reaching around $1.2 billion in 2020,” commented Grigoryan in a press release.
“We are also seeing this growth first-hand: we received more than 250 applications from developers within the first month after launching our own hyper-casual department. This is why we decided to expand this business unit, and that’s where our cooperation with Mamboo Games comes in.”