IP E-Game Ventures, Inc. Merges with Level Up! Inc.

Written by Alex Neri

February 14, 2012

IP E-Games Ventures Inc. Merges into Level Up, Inc

IP E-Games Ventures Inc. Merges into Level Up, Inc

Feb 14, 2012 MANILA, Philippines In a Corporate Disclosure filed with the Philippine Stock Exchange today, IP E-Game Verntures (PSE: IPE), one of the Philippines biggest Online Games publisher in the Philippines, will be merging their corporate assets, operations and equity with Level Up! Inc (LUI). According to the disclosure:

IP E-Game Ventures Inc. (E-Games), the listed online gaming subsidiary
(PSE:EG) of IP Ventures, Inc., and Level Up! Inc. (LUI), have reached an
agreement to merge their Philippine online game publishing businesses.  On
February 14, the parties signed an agreement stating that most of E-Game’s titles
and assets relating to its game publishing business will be transferred to LUI and
the publishing operations of said titles will be merged into LUI’s associated online
game publishing company, Playweb Games Inc.

In exchange, E-Games will receive equity in LUI, a commercial interest in Playweb
Games Inc. (game publisher and operator of all game titles and services under the
Level Up! brand in the Philippines), and a cash consideration.  The parties shall
work in good faith to complete the deal.  The appropriate disclosures and
comprehensive statements shall be made at the appropriate time.

E-Games and LUI, as a merged entity, is expected to strategically benefit both
companies as a result of future operational synergies and savings.

 

All of the titles and assets under IPE will be transferred to LUI. Operations (those involving GM, Community Management and Customer Support). Will be merged with LUI.

It is still unknown whether the new company or entity will operate under the same company name.

The timing of this announcement can never be more curious since they announced a Php 51 million revenue just last week, along with their plans to go into a different market.

Source: Philippine Stock Exchange

Edit: Added a backlink to a related article on the web.

Facebook Comments

22 Comments

  1. lester avila

    wow! just wow! hehe

    Reply
    • Chad

      everyone was surprised to the merge XD, it’s like..no one expected this

      Reply
  2. Miriam Defensor

    e-games getting bankrupt.. or atleast thats what they are seeing

    Reply
    • v3000

      Nah, as someone I know says, it has to do with DOTA.

      Reply
  3. Vic Sotto

    wahhahaha,alams na to, BUTE NGA SA KNILA

    Reply
  4. Francis

    The question here is. Does the LU will continue all the games from IP? this is a very sad story. Some spent so much money on it..

    Reply
  5. MoOse

    SANA MAPALITAN GM NG RAN..AT MAS MAGING MAGANDA SANA ITO. 🙂

    Reply
  6. boy3quizon

    sana ipa alam nla sa mga players kung anu ang plano nila. pano na mga e-games players, cabal at ran online? bka maapektuhan ang laro. d lng basta basta ang gastos jan ah. sweldo ng ng average person ng 3 months isang hp set jan.

    Reply
    • Alex

      We’re actually contacting them regarding their migration plans; so far they’re still planning kung paano nila gagawin ito. Once na finalize na, we’ll be the first ones to know. 🙂

      Reply
  7. Critic

    No! LU’s Customer service sucks so bad!

    Reply
    • orz

      LU has waaaaaaay better customer service than e-games
      lam mo ani ginawa nila sa GE? iniwan na lng ng basta basta at hindi na inasikaso.. dami pang na loloko sa pag top up sa egames to GE
      at walang napala…

      Reply
  8. Critic

    MoOse: wag ka masyado expect.. pumapangit ang laro kapag nagiging LU..

    Reply
    • Pro LU

      mas bulok naman sistema ng e-gays napaka bagal ng costumer service nila pati mga naha-hack di nila ma-asikaso, marerecover gamit may duration naman.. FTW !!

      Reply
  9. Henry

    Ang dami na ngayon MMORPG ng Level Up games. They should offer something new and improve the support as well.

    Reply
    • Chad

      let’s hope they make the service a lot more better

      Reply
  10. pnxhole

    pangit naman grapich ng level up maya pumagit din sa ran mukang cartoon na cartoon sa level up di tulad sa e-games

    Reply
  11. alvy torreon

    paano na ang ran online…bakit hindi kasali dyan :{

    Reply
  12. E-games

    e-games.. na bankrupt ata… ayuko sa lahat LU > <

    Reply
  13. YanPH

    surprising tlga yung merge na to. di ko pa alam kung bakit eh, haha

    Reply
  14. xcream

    .my update n po b qng pnu mg top up s e-games using lvlup! cards?. kc un ung pinmigay nila nung domi 6..

    Reply
    • Chad

      We will try to contact LUG on the details for that

      Reply

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  1. Asiasoft Now Owns Level-Up! - […] Two years ago, Level Up! and E-Games have merged that made them one of the largest MMO publisher in…

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