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COMPUTER HARDWARE & SERVICES | IT Services / Virtualization
coopersnrg.com

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Stage

Acquired | Acquired

About Truly Social Games

Truly Social Games, formerly Cooper's New Reality Garage, is a British Columbia based studio dedicated to Augmented Reality, Mixed Reality, and Virtual Reality technologies and solutions.

Truly Social Games Headquarter Location

16 East 6th Avenue

Vancouver, British Columbia, V5T 1J4,

Canada

Latest Truly Social Games News

Leaf Mobile submits letter of intent to acquire Truly Social Games

Mar 10, 2021

Total Active App (currently available for download): 4,554,336 Total Inactive Apps (no longer available for download): 213,830 Total Apps Seen in US App Store: 4,768,166 Number of Active Publishers in the US App Store: 1,279,953 For a consideration of up to $29 million Date Leaf Mobile has entered into a letter of intent to acquire Candian mobile specialist Truly Social Games. The letter is non-binding. However, the proposed transaction will not exceed CAD $37 million ($29 million). It is said that the transaction will be split into three sections, to be completed over a 42 month period. Furthermore, the initial purchase is expected to close within 90 days of the letter of intent being submitted. Initially, Leaf will acquire 20 per cent of the studio for a cash sum of CAD $3 million ($2.4 million), which Truly Social Games will use to develop four new games. Next, at a consideration of CAD $4 million ($3.2 million), Leaf will acquire a further 20 per cent, though this will be paid in common shares. However, this depends on TSG meeting certain targets over a two-year period regarding its new projects. Aggressive strategy Finally, the remaining 60 per cent of the Vancouver-based developer could be snapped up for CAD 15 million ($11.9 million). Again, this will be paid in Leaf shares, though it depends on TSG's performance over three years. "Leaf believes that the proposed transaction with Truly Social Games further demonstrates execution of our aggressive M&A strategy," said Leaf CEO Darcy Taylor. "We believe that this transaction creates a strong precedent for other teams developing on our IdleKit technology game framework and showcases the pipeline of M&A opportunities it provides. "We will also expand our footprint into new geographies and game genres to further strengthen LEAF's portfolio. The team at Truly Social Games are a skilled studio with strong experience utilizing our IdleKit framework, and we see strong growth potential with an exciting development pipeline in 2021."

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Expert Collections containing Truly Social Games

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Truly Social Games is included in 1 Expert Collection, including AR/VR.

A

AR/VR

1,325 items

Truly Social Games Patents

Truly Social Games has filed 2 patents.

The 3 most popular patent topics include:

  • 3D imaging
  • Augmented reality
  • Perception
patents chart

Application Date

Grant Date

Title

Related Topics

Status

3/25/2020

6/8/2021

3D imaging, Augmented reality, Perception, Computer network security, Social networking services

Grant

00/00/0000

00/00/0000

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Application Date

3/25/2020

00/00/0000

Grant Date

6/8/2021

00/00/0000

Title

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Related Topics

3D imaging, Augmented reality, Perception, Computer network security, Social networking services

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Status

Grant

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