Feb 14, 2012
This is probably the biggest and most surprising news ever to grace the Philippine MMO Gaming scene… and on Valentines’ Day t’boot!
The two gaming companies have apparently merged today, February 14, 2012. All E-Games titles will be transferred to LevelUp! Games after the merge.
In a statement released in Philippine Stock Exchange, details of the circular indicated:
IP E-Game Ventures Inc. (E-Games), the listed online gaming subsidiary
(PSE:EG) of IP Ventures, Inc., and Level Up! Inc. (LUI), have reached an
agreement to merge their Philippine online game publishing businesses. On
February 14, the parties signed an agreement stating that most of E-Game’s titles
and assets relating to its game publishing business will be transferred to LUI and
the publishing operations of said titles will be merged into LUI’s associated online
game publishing company, Playweb Games Inc.
In exchange, E-Games will receive equity in LUI, a commercial interest in Playweb
Games Inc. (game publisher and operator of all game titles and services under the
Level Up! brand in the Philippines), and a cash consideration. The parties shall
work in good faith to complete the deal. The appropriate disclosures and
comprehensive statements shall be made at the appropriate time.
E-Games and LUI, as a merged entity, is expected to strategically benefit both
companies as a result of future operational synergies and savings.
Not only does this mean a merger of two companies, but a merge of the two communities who have been long-time rivals in different games. How LevelUp! will handle the two communities is still purely speculation today. But for sure, it’s going to be a rough ride for PlayWeb Games Inc. Nonetheless, congratulations on the merge!
LevelUp! Games’ past history is also worth recalling.
LevelUp! Games was an independent game publishing company owned by Ben Colayco. PLDT’s NetGames merged with the LevelUp! brand, thereby spawning further mainstream popularity. After at least half a decade, Playweb Games (owned by Ben Colayco, no less) re-acquired the LevelUp! brand from ePLDT, thereby severing the merger completely.
Aside from the fact that PLDT let go of the largest gaming publisher in the country, the telecommunications giant also released ownership of the largest internet / computer shop chain in the country, Netopia, to none other than E-Games.
With the merger of LevelUp! and E-Games, it’s sufficient to assume that not only does LevelUp! wholly own the E-Games brand, but also Netopia. This, then, sets the stage for larger-scale competitions, more games, and more massive events in the years to come.
Philippine Stock Exchange