OnMobile Global Limited has acquired 25 per cent equity stake in Technologies rob0 Inc (rob0) through its Canadian subsidiary for 1 million Canadian dollar (about Rs 5.4 crore), a move aimed at adding new technologies for growing mobile games subscription business of the group.
"OnMobile has acquired a 25 per cent equity stake in rob0, through its subsidiary, Onmobile Global Solutions Canada Ltd, in exchange for an investment of CAD 1,000,000. This transaction will allow rob0 to accelerate its growth as the most innovative AI-powered visual retention analytics solution for video game developers," OnMobile said in a statement on Saturday.
The company will have the option of investing an additional CAD 1 million within 9 months after closing, OnMobile said in a regulatory filing.
"We are very excited about this strategic investment. The combination of OnMobile and rob0 will provide immediate business value and will be the springboard to our enriched mobile gaming offering," OnMobile Global Ltd Chairman and CEO Franois-Charles Sirois said.
"Furthermore, it will bring tremendous value to game developers wanting to make their games highly engaging to end-users," Sirois added.
rob0's AI-powered visual retention technology allows game developers to detect the exact moment in gameplay where users stop playing, saving them hundreds of hours of observation time and minimising significantly their go-to-market risks.
"We couldn't have hoped for a better partner than OnMobile to help rob0 embody its vision and become an essential solution for game developers. We are thrilled to bring our expertise and participate in the success of OnMobile's new gaming offer," Richard Rispoli, co-founder and CEO of Technologies rob0 Inc, said.