MavenHut makes "largest transaction in Romanian gaming industry"

MavenHut makes “largest transaction in Romanian gaming industry”

Newsroom 20/07/2015 | 16:12

MavenHut, a Romanian owned gaming company, announced that it is licensing its most successful Facebook products, Solitaire Arena and Solitaire Arena 3. The company declined to comment on the exact sum, invoking a confidentiality clause.

The transaction made with RockYou, a San-Francisco based gaming company, transfers the trademarks of the two games and licenses the source codes, allowing MavenHut to further expand their Solitaire franchise on the mobile market.

“The transaction was difficult, but we got a good deal, almost hard to believe given the conditions. We kept everything: income, knowledge, people. This way we can expand the Solitaire franchise with titles such as Solitaire Live, Solitaire Tournaments and Solitaire KnockOut and we can focus on mobile,” said Cristi Badea, co-founder of MavenHut.

The two games that were subject of the transaction, Solitaire Arena and Solitaire Arena 3, were made in-house and represented 60 percent of MavenHut’s revenue were at an all-time high, had positive cash flow and increase predictability, according to company representatives.

MavenHut reached its first million of users within a 12 month period, faster than Tumblr and Twitter, and at the time of the transaction had already reached 1.5 million daily active users and 35 million installs across Facebook and mobile. According to data from the company, the two games were in the top 100 most monetized Facebook games, with an extended global audience.