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Garena buys Phoenix Labs; price said to be over US$150m

Deal signals Garena's increased focus on game development; Phoenix has over 100 top "AAA" game developers

    Published Wed, Jan 29, 2020 · 09:50 PM

    Singapore

    GARENA, the gaming arm of Singapore-based Sea Ltd, announced on Wednesday it has acquired gaming developer Phoenix Labs as part of its plans to strengthen its game-developing capabilities worldwide.

    The company did not divulge if the deal was a cash or stock deal, but according to sources close to the matter, the New York-listed firm spent over US$150 million to buy 100 per cent of Phoenix Labs.

    Sea LtdGarena

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