Idle Media Inc. announced its completed acquisitions of three online properties: free-to-play, browser-based RPG Prison Block, female-targeted gaming portal ChixRus (iKissed Souljah Boy), and Twitter profile customization site TweetVibe.
The online entertainment firm believes that purchasing these three properties will help expand its offerings and reach new audiences. With Prison Block (pictured), which currently has more than 50,000 users, in particular, it plans to expand the jail RPG's membership base and take advantage of virtual currency transactions.
Idle Media points out that these three purchases were transacted in cash and are "non-dilutive to the company's shareholders". Just two months ago, the company acquired the source code for Facebook game Backyard Buddies, also announcing plans to dedicate resources to developing cross-platform social titles for smartphones, mobile handsets, and social networks.
Founded in 2008 and based in Leesport, Pennsylvania, Idle Media has several other non-gaming properties, such as online mixtape community DatPiff and rap music site Hip Hop Early. The firm didn't disclose specific financial terms for its new acquisitions, but it promises that more information will be available in its upcoming SEC filing.
"Social media gaming is absolutely blowing up," says Idle Media Inc.'s president and CEO Marcus Frasier. "... These types of applications have massive revenue potential if exploited correctly, and we are working quickly to position ourselves solidly within this genre.
Frasier predicts, "We think it is inevitable that the social media platforms will take over online gaming at some point, it's just a natural synergy."
