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

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.

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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.

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“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.

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

Source: e27
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