Wednesday February 20,2013 : PROGAMING IN SOUTH EAST ASIA DEAL
Puzzle game central aspect of joint venture agreement
Israeli-based multiplayer online gaming platform provider ProGaming Platforms Inc. entered into a joint venture with Zenetek LLC, a wholly owned subsidiary of California-based Anything Technologies Media, this week.
In an initial twelve month deal, the JV seeks to market ProGaming's online gaming services in the South East Asian market where Zenetek will be granted exclusive representation and distribution rights for the China, Taiwan, Hong Kong, Vietnam, Singapore and Indonesia markets.
Zenetek will use Pro Gaming's puzzle game to serve the online advertising industry by marketing multiplayer tournaments with the purpose of driving traffic to designated web sites.
Participants compete against other players in the puzzle game in a race to complete a virtual jigsaw puzzle. Players are awarded points for each piece they correctly place according to the positioning of the piece.
Each puzzle includes a background image to guide players, and when a player successfully places a piece of the puzzle, that piece will "jump" into its correct position on the screens of all participating players, eliminating the puzzle piece from play for other players but awarding points to the player who placed it.
Other aspects of the game include a Scramble button, golden puzzle pieces with further features planned such as social network scoring links and an online shop.
Robinson To, chief executive officer of Zenetek, commented: "This joint venture with ProGaming provides us with the platform to gain tremendous market share for our gaming platform for years to come and has great potential to increase revenues for both ProGaming and Zenetek.
“Based upon the increases we have seen in gaming and mobile gaming in the US and more ‘Western' markets, the Asian cultures and their affinity for gaming will far surpass the US. In many ways, the Asian markets in our sector already have experienced significant increases and Zenetek is gaining market share at a rapid pace. Our joint venture with ProGaming Platforms will only accelerate that pace. "
"We are very excited about our extraordinary opportunity working with Zenetek to capture a significant share of the fast-growing Southeast Asian gaming market," added Erez Zino , ProGaming's CEO. . "This opportunity comes at a strategic time for us to showcase the exciting, robust capabilities of our Platform, which can turn virtually any Web-based game into a lucrative, rewards-based competitive game of skill.
"With the explosive growth of Asian social networking platforms on the Internet, users are increasingly demanding quality online entertainment that is interactive, fun and challenging. ProGaming's new puzzle game answers that call and more," Zino concluded.
A rather slow-loading tutorial type demo of Pro Gaming's puzzle game can be viewed at: http://www.progamingcorp.info/introduction.swf
In related news, ProGaming entered into a share swap agreement with BioMedix Ltd and will utilise the funds raised to add personnel, fund additional joint venture projects and acquire technology resources.
"ProGaming is continuing its efforts to improve cash flow, which will also improve our financial condition and should result in share price appreciation. Our long-term plan includes seeking to upgrade our share listings to higher level exchanges including foreign listings in the future," said Zino.