California-based social gaming developer RockYou acquired Center City-based online bingo developer Ryzing last week for an undisclosed amount, the Inquirer’s Mike Armstrong reports. Ryzing, which launched in 2009 and specializes in awarding cash prizes to its bingo winners, will remain in the city, according to a statement released by Ryzing investor Artists & Instigators. More details on the sale below:
A statement released by one of Ryzing’s investors indicated that Ryzing’s team, headed by Manu Gambhir, will join RockYou, which intends to maintain and expand the Philadelphia office.
Wayne Kimmel, a partner in the Artists & Instigators venture fund, said Ryzing currently has 10 full-time equivalent employees, including six in Philadelphia. Kimmel will join the board of directors of RockYou, the company behind the Zoo World line of games on Facebook.
RockYou bought Ryzing less than six months after the two firms struck up a publishing relationship for the bingo game. [more]
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