Playdom’s train of acquisitions rolled into the Hive7 station yesterday afternoon as the Mountain View, CA based firm announced the purchase.
Hive 7 was founded in 2005, and is mainly focused on building Facebook and other social network apps. They’re best known for their popular Knighthood title, a medieval based battle and diplomacy game. Hive7 isn’t strictly tied to Facebook however, as they’ve also developed for MySpace, Bebo, Youtopia, Kick-off, and Sindicate.
“Our entire team is excited about joining forces with Playdom,” said Max Skibinsky, CEO of Hive7. “Gaining access to Playdom’s industry knowledge and resources represents a unique opportunity for our studio to operate on an entirely new scale.”
“We have moved our development studio into Playdom’s Mountain View office and are hard at work on our next title. We will continue to deliver enjoyable and engaging games to Playdom’s much larger player base,” added Dave Holt, COO and Executive Producer of Hive7.
This is Playdom’s 5th acquisition in the last four months alone, and the company is showing no signs of slowing. They might not be achieving Zynga’s rep, but if these acquisition figures are any indication, they’re clearly in the same revenue ballpark. Remember, in 2009, Playdom brought home about $50m in revenues. And this is at a time when freemium was just on the upswing. Now that the trend has arrived, with even major studios such as Turbine converting their flagship title LotRO into a free-to-play, it’s plausible to say that Playdom might be on track to double this number this or next year.
We welcome Hive7′s employees and contractors to our family,” said John Pleasants, CEO of Playdom. “Our studio structure enables us to add stand-alone development start-ups like Hive7 to our portfolio without disrupting the cohesion and collegiality that made it such a special place to work. By integrating with our innovative central services and business intelligence functions, Hive7 will be positioned to develop deeper and more compelling games.”
The terms, conditions, and amount of the acquisition were not disclosed.
