Business

Maxamtech Digital Ventures will be acquired by QYOU Media India

QYOU Media India today announced that it has signed a binding term sheet to acquire a majority investment in Maxamtech Digital Ventures, a six-year-old India-based enterprise that develops technology and games for the mobile gaming market.

Maxamtech presently provides a number of gaming destinations for corporations such as Vodafone and Glance using its proprietary platform Gaming 360. As the year progresses, QYOU Media India will be pushed to expand its portfolio of direct-to-consumer products.

This covers recent statements about the QPLAY app’s introduction and a subsequent co-marketing arrangement for QPLAY to run throughout the current T20 World Cup Cricket competition.

  • QYOU Media India and Maxamtech to launch branded gaming portal in 2023
  • To be promoted across all QYOU Media India channels
  • India Based Company has Operated Games, Gaming Platforms, and Interactive Content for major partners including Vodafone, Glance, and others

In recent years, India’s mobile gaming industry has undergone extraordinary growth. According to KPMG, India has 420 million internet gamers, ranking second only to China.

This trend is being driven by a growing younger population with more disposable cash, as well as a rapid increase in smartphone use.

The discovery and acceptance of casual and free-to-play games, a specialty of Maxamtech’s Gaming 360 platform, are predicted to drive revenue in the mobile gaming industry to more than $5 billion USD by 2025.

Founded in 2017 Maxamtech Digital Ventures (https://www.maxamventures.com), located in Pune, India, is led by veterans of the Indian gaming industry Xerxes Mullen and Sundeep Thusu.

Over the years, their clients and collaborators have included Disney India, Sony, Viacom18, Zee5, Ooredoo, Glance, SpiceJet, and many more. Most recently, the firm formed a strategic alliance with Vodafone to expand the major telco’s mobile gaming activities.

Both Maxamtech founders will remain in positions of leadership in the company, supervising all technical, business development, and marketing operations.

“We have been looking for the right partner to take our business to the next level. Gaming continues to be one of the biggest opportunities in the Indian media and entertainment segment and we feel completely aligned with the QYOU Media and QYOU Media India management team on how we can really grow our operation in a smart and profitable way. We couldn’t be more excited to begin this journey together.”

Xerxes Mullen, Founder, Maxamtech Digital Ventures, said,

“We first met the Maxamtech founders over a year ago.” We understood right away that combining their technology and gaming know-how with our capacity to reach youthful people on a large scale, which has now topped 125 million weekly viewers, could be a formidable combination. It was a natural match to incorporate this into our business more directly as we move forward into 2023 to create additional chances to use our audience reach with new products for monetization and interaction.”

Curt Marvis, Global CEO and Co-Founder of QYOU Media Inc., stated,

“At QYOU Media India, we aspire to continue expanding and diversifying our offerings beyond providing entertainment.” Acquiring Maxamtech Digital Ventures’ outstanding staff is another important step toward this goal. The acquisition will demonstrate our ongoing commitment to providing distinctive and new experiences to our 125 million weekly young viewers, as well as our continued emphasis on bringing real innovation to the industry. We anticipate increased opportunities to reach out to our consumers with new products powered by innovation and engagement as we strengthen our skills with Maxamtech.”

Krishna Menon, COO of QYOU Media India, stated,

About QYOU Media

QYOU Media, one of the fastest growing creator-media companies, is based in India and the United States, where it produces, distributes, and monetizes content made by social media influencers and digital content stars.

In India, we curate, produce, and distribute premium content through television networks, VOD and OTT platforms, mobile phones, smart TVs, and app-based platforms under our flagship brand, The Q.
We currently offer five emerging content destinations that reach over 125 million Indian households on a weekly basis: The Q (mass entertainment), Q Marathi (regional content), The Q Kahaniyan (animated content), The Q Comedistaan (comedy focused), and our newest Q-GameX. (live gaming).
Chtrbox, our influencer marketing firm, has been a pioneer in India’s creative economy, harnessing analytics to connect companies with the proper social media influencers.
We enable large film studios, gaming publishers, and brands in the United States to create content and advertise it through creators and influencers.
QYOU Media, founded and produced by industry veterans from Lionsgate, MTV, Disney, and Sony, delivers millennial and Gen Z-focused content to over one billion people worldwide each month.
This article was shared with Prittle Prattle News as a Press Release.
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