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MTG acquires mobile racing game studio Hutch Games for up to $375 million

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Sweden’s MTG is making a significant acquisition in the mobile gaming industry. The company is acquiring Hutch Games, the London-based game studio behind popular mobile racing games such as Rebel Racing, F1 Manager and Top Drives.
The acquisition is an important one for MTG as the company is spending $275 million right away and setting aside another $100 million for performance-based payments.
If you’re not familiar with MTG, you probably know its portfolio companies. Over the past few years, MTG has acquired ESL and DreamHack to become an esports leader.

MTG has also acquired InnoGames and Kongregate for their popular web-based and mobile games. And it sounds like MTG isn’t done just yet, as the company plans to acquire more companies in the near future.
MTG explains why the acquisition makes sense in its announcement. Hutch Games isn’t focused on a single game. It has built a portfolio of successful games, which is always a good sign for future growth.
The game studio has also licensed some well-known brands, such as F1. And MTG believes that F1 Manager, Top Drives and Rebel Racing still have a lot of growth potential. Free-to-play mobile games have become games-as-a-service, so you want to keep them popular over the long run.
When it comes to long-term potential, Hutch Games also has more games in the pipeline for 2021 and 2022. Finally, it’s a cost-effective studio, as most employees are developers.
During the first nine months of 2020, Hutch Games generated $56.3 million in revenue and $13.3 million in earnings before interest and taxes (EBIT). Hutch Games investors included Backed VC, Index Ventures, Initial Capital and angel investor Chris Lee.
As you can see, free-to-play games can be lucrative. That’s why there will be some consolidation in the future. Some companies will use their deep pockets or take advantage of debt to build out big portfolios and the real estate of your home screen, one game at a time.

MTG acquires mobile racing game studio Hutch Games for up to $375 million

PUBG Mobile plots return to India following ban

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PUBG Mobile, the sleeper hit title that was banned in India two months ago over cybersecurity concerns, is plotting to make a return in the world’s second largest internet market, two sources familiar with the matter told TechCrunch.
The South Korean firm has engaged with global cloud service providers in recent weeks to store Indian users’ data within the country to allay New Delhi’s concerns about user data residency and security, one of the sources said.
The gaming giant has privately informed some high-profile streamers in the country that it expects to resume the service in India before the end of this year, the other source said. Both the sources requested anonymity as they are not authorized to speak to the press. PUBG Corporation did not respond to a request for comment Thursday.

The company could make an announcement about its future plans for India as soon as this week. It also plans to run a marketing campaign in the country during the festival of Diwali next week, one of the sources said.
In recent weeks, PUBG has also engaged with a number of local firms, including SoftBank-backed Paytm and telecom giant Airtel, to explore whether they would be interested in publishing the popular mobile game in the country, an industry executive said. A Paytm spokesperson declined to comment.
Chinese giant Tencent initially published PUBG Mobile apps in India. After New Delhi banned PUBG Mobile, the gaming firm cut publishing ties with Tencent in the country. Prior to the ban, PUBG Mobile’s content was hosted on Tencent Cloud.
Late last month, two months after the ban order, PUBG Mobile terminated its service for Indian users. “Protecting user data has always been a top priority and we have always complied with applicable data protection laws and regulations in India. All users’ gameplay information is processed in a transparent manner as disclosed in our privacy policy,” it said at the time.

PUBG Mobile to terminate access for users in India on October 30 following ban order

With more than 50 million monthly active users in India, PUBG Mobile was by far the most popular mobile game in the country before it was banned. It helped establish an entire ecosystem of esports organisations and even a cottage industry of streamers that made the most of its spectator sport-friendly gameplay, said Rishi Alwani, a long-time analyst of Indian gaming market and publisher of news outlet The Mako Reactor.
PUBG Mobile’s return, however, could complicate matters for several industry players, including some that are currently building similar games to cash in on its absence and their conversations with venture capital firms over ongoing financing rounds.
It would also suggest that more than 200 other Chinese apps that India has banned in recent months could hope to allay New Delhi’s concerns by making some changes to where they store their users’ data. (That was also the understanding between TikTok and Reliance when they engaged in investment opportunities earlier this year.)

ByteDance in talks with India’s Reliance for investment in TikTok

PUBG Mobile plots return to India following ban

Zynga reports record revenue and strong user growth while still losing $122M

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Zynga’s revenue grew to a record $503 million (up 46% year-over-year) in the third quarter, with bookings of $628 million (up 59%), according to its latest earnings report. It also had its best mobile daily active user (31 million) and monthly active user (83 million) numbers in six years.
But things weren’t all rosy: The company also reported a net loss of $122 million. That compares to net income of $230 million during the same period last year, though that was boosted by the sale of Zynga’s building in San Francisco. As of 4:44 p.m. Eastern, shares were down 4.9% in after-hours trading.
Before earnings were released, CEO Frank Gibeau told me that although growth has become more normal after the pandemic caused “that huge jump” in usage during the late spring and early summer, “Engagement remains elevated and monetization remains elevated. Folks that discovered mobile gaming for the first time returned to it and kept doing it.”

The company predicted further growth in Q4, with revenue up 55% to $570 million. Gibeau pointed to a “digital holiday” that could have big benefit in mobile gaming, with new mobile on the market, plus social distancing and lockdowns resulting in the fact that “a lot of folks aren’t going to be able to go to stores and buy gifts.”
During the third quarter, Zynga also closed its acquisition of Istanbul-based hyper-casual game publisher Rollic. Gibeau said the team is “fully integrated at this point from an operating standpoint,” but the company won’t start including Rollic in its user numbers until the next quarter.
“We are well-positioned for further M&A,” he added.

Zynga completes its acquisition of hyper-casual game maker Rollic

Zynga reports record revenue and strong user growth while still losing $122M

PUBG Mobile to terminate access for users in India on October 30 following ban order

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PUBG Mobile, the sleeper hit mobile game, will terminate all service and access for users in India on October 30, two months after New Delhi banned the game in the world’s second largest internet market over cybersecurity concerns.
India on September 2 banned PUBG Mobile Nordic Map: Livik and PUBG Mobile Lite, along with more than 100 apps with links to China. The ban came after India banned TikTok and dozens of other popular Chinese apps in late June.
These apps were “prejudicial to sovereignty and integrity of India, defence of India, security of state and public order,” the country’s IT Ministry said on both the instances.

India bans PUBG Mobile, and over 100 other Chinese apps

But unlike other affected apps that became unavailable within days — if not hours — PUBG Mobile apps remained accessible in the country for users who already had them installed on their phones, tablets and PCs. In fact, according to one popular mobile insight firm, PUBG Mobile had retained more than 90% of its monthly active users in the country, a mobile-first market where 99% of smartphones run Android, in the weeks following New Delhi’s order.
(Following the ban, Google and Apple pulled PUBG Mobile apps from their app stores in India. But soon enough, guides on how to work around the ban and obtain and install the apps became popular on several forums.)
PUBG Mobile had about 50 million monthly active users in India, tens of millions of users ahead of Call of Duty: Mobile and Fortnite and any other mobile game in the country.
“PUBG Mobile kickstarted an entire ecosystem — from esports organisations to teams and even a cottage industry of streamers that made the most of its spectator sport-friendly gameplay,” said Rishi Alwani, a long-time analyst of Indian gaming market and publisher of news outlet The Mako Reactor.
“Granted Tencent did a lot of the heavy lifting in building it out, but the game’s quality itself was heads and shoulders above what most Indians were used to on smartphones. And that’s a reason many kept coming back, some eventually monetising as well,” he added.

India bans TikTok, dozens of other Chinese apps

South Korea-headquartered PUBG Mobile attempted to assuage New Delhi’s concern by cutting ties with Tencent, the game’s publishing and distribution partner in India.
On Thursday, PUBG Mobile said, “protecting user data has always been a top priority and we have always complied with applicable data protection laws and regulations in India. All users’ gameplay information is processed in a transparent manner as disclosed in our privacy policy.”
“We deeply regret this outcome, and sincerely thank you for your support and love for PUBG Mobile in India,” it added.

PUBG cuts publishing ties with Tencent Games in India a week after ban

PUBG Mobile to terminate access for users in India on October 30 following ban order

Daily Crunch: Apple files countersuit against Epic

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Apple strikes back at Epic Games, Android 11 is here and Microsoft announces a new stripped-down Xbox. This is your Daily Crunch for September 8, 2020.
The big story: Apple files countersuit against Epic
Apple has made the latest move in a legal battle against Epic Games, filing a lawsuit claiming that the company behind Fortnite is in breach of contract.

“Although Epic portrays itself as a modern corporate Robin Hood, in reality it is a multi-billion dollar enterprise that simply wants to pay nothing for the tremendous value it derives from the App Store,” Apple wrote in its suit.
This follows Epic’s attempt in August to avoid Apple’s 30% App Store fee, which led to Apple removing Fortnite and eventually Epic from the App Store. (Accounts tied to Epic’s Unreal game engine have not been removed.) Epic then launched a lawsuit and a PR campaign against Apple, arguing that the company is abusing its market power.
The tech giants
Android 11 has arrived — Android 11 isn’t a radical departure, but there are a number of interesting new user-facing updates that mostly center around messaging, privacy and giving you better control over all of your smart devices.
Microsoft confirms compact, $299 Xbox Series S arriving on November 10 — The Series S is essentially a stripped-down version of the upcoming Series X, without true 4K rendering and with a lot less processing power.
Apple’s next event is September 15 — The event will almost certainly feature the new Apple Watch.
Startups, funding and venture capital
General Motors takes $2 billion stake in electric truck startup Nikola — Through the deal, GM gets 11% ownership in startup Nikola, and will, in turn, produce Nikola’s wild fuel cell pickup truck by the end of 2022.
Silver Lake leads $500 million investment round in Indian online learning giant Byju’s — The round values the Indian online learning platform at $10.8 billion.
Progress snags software automation platform Chef for $220M — Progress, a Boston-area developer tool company, is boosting its offerings in a big way.
Advice and analysis from Extra Crunch
How to respond to a data breach — How a company responds to a data breach can make or break its reputation.
9 proptech investors talk co-living, home offices and other pandemic trends — TechCrunch surveyed nine firms that are writing checks today, and this second installment focuses on the opportunities and risks for startups.
JFrog’s IPO strong initial price range values it ahead of the larger Sumo Logic — The IPO wave continues to crest as a number of well-known technology companies line up to float their equity on American exchanges.
(Reminder: Extra Crunch is our subscription membership program, which aims to democratize information about startups. You can sign up here.)
Everything else
‘Mulan’ drove Disney+ app downloads up 68% week-over-week, but didn’t beat ‘Hamilton’ — According to early data, the launch helped grow Disney+ mobile installs by 68%, compared with one week prior.
Original Content podcast: ‘Teenage Bounty Hunters’ is more interested in relationships than bounty hunting — Despite the show’s silly name, we ended up surprisingly invested in the characters.
Drew Houston will talk about building a startup and digital transformation during COVID at TechCrunch Disrupt — This is next week!
The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 3pm Pacific, you can subscribe here.

Daily Crunch: Apple files countersuit against Epic