Acquires Singapore’s Art of Click for $45M
LISTED technology firm Xurpas Inc. plans to conduct an initial public offering on the Philippine Stock Exchange (PSE) for its celebrity-themed game developer Xeleb Technologies Inc. to raise capital to finance its planned mobile game launches.
“On October 7, 2016, the board of directors of Xurpas Inc. approved the application for initial public offering (IPO) of Xeleb Technologies Inc. to the Small, Medium and Emerging Board of the Philippine Stock Exchange,” Xurpas said in a disclosure to the PSE.
Xurpas is currently consolidating its celebrity game development business into Xeleb Technologies after the company acquired mobile and internet systems developer Fluxion Inc. Xurpas said it is currently securing approval from the Securities and Exchange Commission for the change in corporate name from Fluxion Inc. to Xeleb Technologies.
Also on Friday, trading in Xurpas shares was halted for one hour to give the investing public time to absorb the company’s recent takeover of Singaporean mobile advertising firm Art of Click Pte. Ltd. for $45 million.
Art of Click is a Singapore-based technology company specializing in mobile media advertising for clients across various markets including South Korea, Japan, Hong Kong, Taiwan, Southeast Asia, North America and Europe.
Xurpas expects the mobile advertiser to contribute significantly to its revenue flow as Art of Click reported sales growth of 315 percent for fiscal year 2016 to 15.4 million Singaporean dollars ($11.2 million or P542.5 million).
“We are thrilled to find innovative companies exceedingly complementary with our business. We believe that Art of Click is a perfect match for our mobile consumer services, and that growth prospect excites us,” Nix Nolledo, Xurpas chairman and chief executive officer, said.
Compared to traditional mobile advertisement that delivers views without measuring its actual conversion into revenue, Art of Click allows clients to only pay for advertisement that converts to measurable actions, such as installing a game, signing up for a service or making a purchase—a metric of how advertisement turns into actual revenues.
“Our main growth driver is largely mobile consumer services. Since our IPO, we have strategically invested in companies that will boost our content offering for the mobile subscriber. We love the fact that Art of Click has the capability to this core business unit,” Raymond Racaza, Xurpas president and chief operating officer, said.
“Right now, we are developing revolutionary mobile consumer platforms that integrate our various investments. Our investment in Art of Click couldn’t have come at a more perfect time,” he added.
Xurpas is a company specializing 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: mobile consumer gaming and enterprise services.services.