Monaker Announces Acquisition of 33% Equity Stake in Axion Ventures

Monaker Group, Inc., a pioneer in providing vacation and travel rental booking technology, has accounted for the completion of the acquisition of a 33% equity stake in Axion Ventures, In. which is a majority owner of True Axion Games and Axion Games. As a part of the agreement, Monaker is assigned ownership of a total of US$7.6 million in obligation owed by Axion Ventures which is called and is past due.

Monaker is planning to make the most of the rising gaming market which is projected to expand substantially in the coming years, as per a few recent reports. The launch of advanced gaming consoles is projected to be a chief contributor.

Axion’s acquisition was made in unification with the earlier announced planned attainment of HotPlay Enterprise which is an advanced in-game advertising company (IGA) that uses proprietary AI to reach, engage and transform games by seamlessly integrating natural ads and non-intrusive digital coupons that can be redeemed through online as well as offline channels. The HotPlay acquisition is still subject to shareholder approval.

Monaker’s CEO, Bill Kerby stated that though the company has taken over 33% ownership in Axion and planned the acquisition of HotPlay, the company will transform itself from being only being a B2B travel technology space player to a broad technology enterprise using in-game digital advertising, video gaming as well as travel booking platforms to engage customers for the benefit of travel providers and major brands. This completing of acquisition signified the first important step taken towards becoming an industry leader in these thriving and exciting areas.

Founded in 2006, Axion Games is an autonomous AAA game development studio as well as a game publisher. It creates huge production value game content which is developed by a creative team that is responsible for various top-selling games, including various famous titles from Epic Games.

 

Source: http://monakergroup.com/monaker-group-acquires-33-equity-stake-in-axion-ventures-inc-completes-first-major-step-toward-becoming-industry-leader-in-consumer-engagement-through-travel-gaming-and-digital-advertising-innovati/