Madhead Ltd., developer of the mobile game Tower of Saviors, plans to launch another role-playing game with Tencent Holdings Ltd. (00700.HK) next year, despite the termination of their previous cooperation in October, founder Terry Tsang said.
Tencent was authorized to be the exclusive distributor for Tower of Saviors in China in October 2013, but the cooperation ended last month and the game has been pulled out of Tencent’s platform.
Explaining the termination of the cooperation, Tsang cited the need for frequent game updates and substantial resources in the market.
Madhead, which planned to sell a minority stake to Guangzhou-based game developer Forgame Holdings Ltd. (00484.HK) last year, currently has 190 employees, of which 170 are located in Hong Kong and the rest in Taiwan. The proposed deal with Forgame was not completed due to regulatory reasons.
Taiwan, Hong Kong and Malaysia are the company’s top three revenue contributors.
It is also considering expanding in Southeast Asia with New Zealand-based Pikpok, creator of the game Rival Stars Basketball.
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