Razer partners with 3 Group, raises US$50-100M from Li Ka-Shing’s Horizons Ventures

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Razer has been making foray into mobile, industry, starting with an acquisition of smartphone maker Nextbit

Gaming company Razer announced a strategic partnership with 3 Group, a telco division of leading conglomerate CK Hutchison Holdings.

While a press statement by both companies stated that the deal includes co-branding, mobile devices and plans, virtual currency distribution, and the opening of a RazerStore in Hong Kong, TechCrunch reported that the deal is a “part investment and part sales and marketing strategy.”

Razer CEO Min-Liang Tan told the media that Hutchison and 3 investor Li Ka-Shing has also taken a stake in the company through his VC firm Horizons Ventures.

Though Tan declined to share the financial terms of the investment, an anonymous source said that the investment worths “more than US$50 million and less than $100 million.” It values the company at “close to US$2 billion.”

There is no clear information when exactly Horizons Ventures had invested in the company; it might have been part of a past round that have only been confirmed recently, or something more recent.

Also Read: Razer CEO Min-Liang Tan built a cult following, says one fan has brand tattooed on arm

Starting out as a gaming hardware company, Razer has been making a foray into the mobile industry, starting with an acquisition of smartphone maker Nextbit in January.

“Razer is the world’s leading lifestyle brand for gamers and reaches billions of gamers globally. In addition, we’re pioneers in e-sports – one of the most exciting media platforms in recent years,” said Tan.

“We are incredibly excited about joining forces with the 3 Group to bring our cutting-edge gamer lifestyle to their audiences. From co-branding to mobile and virtual currencies – we’re excited to work with the 3 Group to reach out to the youth in their markets,” he added.

According to newZoo 2015 Global Games Market, smartphone players contribute over US$27 billion to the US$100 billion global gaming industry.

The partnership between Razer and 3 Group marks the first between the company and a mobile network operator.

The post Razer partners with 3 Group, raises US$50-100M from Li Ka-Shing’s Horizons Ventures appeared first on e27.

Source: e27