The US’s D2C games specialist Oasys Mobile is examining options to pay off $8 million in debt.
The company, formerly known as Summus, has hired an investment bank to consider a merger, acquisition or strategic investment. Oasys is known as a D2C vendor of games, ring tones and wallpapers, although it is now shifting its strategy in favour of working B2B with media companies and consumer brands.Although Oasys has significant debt, it’s revenues are rising and it remains a good potential bet in what is expected to be a fast-expanding US off-portal market. It has just reported revenues of $8.7 million in 2006, up 11 per cent from 2005, and expects the company to become profitable in 2007.
Oasys recently introduced a web-based service to which developers can submit unsigned games for consideration. It has also produced some big sellers before, such as Texas Hold 'Em by Phil Hellmuth.
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