Puzzle & Dragons publisher buys 70 percent of Playphone

GungHo is busy.

The Japan-based mobile publisher just bought 70 percent of U.S.-based mobile gaming network Playphone, which has over 800 million subscribers, as reported by Serkan Toto. It’s a key deal in the growing mobile-gaming industry, which could reach $20 billion by the end of 2014, and another significant move in the company’s bid for U.S. growth.

GungHo is best know for the mobile hit Puzzle & Dragons, which is a megahit in Japan. However, the puzzle game is also gaining an audience in the West.

The publisher is doing very well. Its revenue hit $1.22 billion between January and September, up 14.4 percent from the same period last year. It expects October 2014 sales to reach $120 million.

The company also recently announced a partnership with 17-Bit, the developer behind Skulls of the Shogun.

Mike Minotti

Mike Minotti has been with GamesBeat since 2012, starting as an intern. Based near Youngstown, Ohio, he now manages GamesBeat's editorial team. He's also a prolific podcaster, appearing on multiple shows covering the gaming industry.