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PRNewsWire
1 year ago
GCL Asia and Wan Xin Culture Technology Company Announce Signing of MOU Allocating USD $100 Million Collaboration to Boost Southeast Asian Gaming Market
Epicsoft Asia, a subsidiary of GCL Asia, and Wan Xin Culture Technology Company, a subsidiary of Wan Xin Media Group, have signed an MoU, allocating over USD $100 million to a five-year collaboration focused on innovating intellectual property creation, game development, publishing, and studio acquisitions The team-up anticipates introducing a real-time platform for managing digital game codes for transparent sales reporting, potentially driving efficiency and business growth A robust revenue optimization strategy will also be introduced to target online game piracy, leading to increase in recovered revenues SINGAPORE , May 23, 2024 /PRNewswire/ -- Leading Southeast Asian games distributor Epicsoft Asia, a subsidiary of GCL Asia , has signed a Memorandum of Understanding (MoU) with Wan Xin Culture Technology Company, a subsidiary of Chinese conglomerate Wan Xin Media Group. This MoU marks the beginning of an anticipated five-year collaboration to jointly allocate over USD 100 million to investment in intellectual property (IP) creation, game development, publishing opportunities exploration, and game studio acquisitions.