Upstart set for sale

Aim-listed Sun TV Shop has signed an agreement to buy the Irish-based Upstart Games, a company that develops and publishes mobile…

Aim-listed Sun TV Shop has signed an agreement to buy the Irish-based Upstart Games, a company that develops and publishes mobile games.

The acquisition, once completed, will combine Upstart's global mobile distribution network, product development team and localisation platform with Sun TV Shop's presence in China.

Sun TV said the acquisition was part of its strategy to roll out content, community, and commerce (3C) services for mobile technology. No financial details were disclosed.

Upstart Games employs 25 staff in Ireland and five in Tokyo. It was founded in 2003 by chief executive Barry O'Neill, John Dennehy and Hiroshi Okamoto. The company raised funds through a business expansion scheme and is supported by Enterprise Ireland. It has sales of around €2 million. Upstart Games works with several leading Japanese mobile games developers including Sony Computer Entertainment, Konami and G-Mode.

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Mr O'Neill said that by joining Sun TV Shop the company would have the resources and support to complete its transformation into a full service mobile media company. Sun TV Shop has a market capitalisation of about €100 million.