Mobile content and games developer Xurpas Inc. is setting its sights on the Southeast Asian market in an aim to become a dominant player.
Nico Jose Nolledo, Xurpas president, claims the firms was the first mobile content developer to be expanding aggressively in the region.
“We’re very aggressive … we’re in a rush. Now that there aren’t too many players, it’s easier for us to build our presence. We don’t want to be a laggard where the competition will be very stiff already by the time we expand,” Nolledo said.
Since investing in eight companies, Xurpas is now being approached by prospective partners, he said.
“Every week, there are some approaches,” Nolledo said.
Asked if the company was also looking outside Southeast Asia, Nolledo replied: “We would never really completely close ourselves to a truly global market. But it’s just that geographically it’s hard. We haven’t yet conquered Southeast Asia.”
Xurpas’s acquisitions across the region are mostly in Singaporean, Indonesian and Philippine companies, worth P1.246 billion as of end-September last year. This excludes a deal worth $500,000 (P23.3 million) with Singapore-based technology solutions provider Einsights Pte. Ltd that can be converted to equity in the company.
The company raised P1.4 billion from a 2014 initial public offering (IPO) and Nolledo said additional funding, if needed, would come from untapped credit facilities or a share sale.
“We have credit lines with multiple banks, so that is an option. And then at present, about 21 percent of our shares is currently publicly listed. There’s always that option to increase that,” he said.
“It really is the function of if there is an investment that would make sense for the capital to be deployed. I mean an investment can range anywhere from less than a million dollars to $50 million . . . it depends on how much you need,” Nolledo added.
“There’s nothing that we’re really planning for. If ever we raise capital, it will be because there is a very promising investment or acquisition.”
Xurpas’ acquisitions include a 31.52-percent stake in Singaporean game developer MatchMe Pte. Ltd. for $1.4 million (P61.6 million), a 49-percent stake in Indonesian IT firm PT Sembilan Digital Investama for $245,000 (P10.9 million), a 51-percent controlling stake in employee benefits management firm Storm Flex Systems Inc. for $4.3 million (P202.5 million), a 21.7-percent interest in Singaporean IT firm Altitude Games PTE Ltd. for $741,000 (P34.9 millon), 4.5 percent of US-based Quick.ly for $999,999 (P46.8 million), 51 percent of Globe’s Yondu Inc. for P900 million and 70 percent of Seer Technologies Inc. for P18 million.
Xurpas specializes in the creation and development of digital products and services for mobile end-users as well as the creation, development and management of proprietary platforms for mobile operators. It has two business segments: gaming and enterprise, the latter focused on telecommunications solutions.
Notable casual games the company has developed included Xeleb’s “Anne Galing” and “Sarah G Popsters.”