Gree acquires developer Pokelabo for $173 million

Gree has added another studio to its lineup. The publisher spent $173 million to purchase Pokelabo studios.

Developer Pokelabo produced hit iOS and Android titles like Mystic Monsters, a digital collectible card game similar to Rage of Bahamut, one of the Android Play Store’s highest grossing app. A move like this is somewhat expected, as Gree previously expressed interest in card video games like Mystic Monsters.

As its competitor Zynga struggles and slashes jobs, Gree continues to expand. This is the company’s third huge purchase in the last 18 months. Pokelabo joins developer Funzio and social-gaming platform OpenFeint in Gree’s portfolio.

Publisher Sega, venture-capital firm DCM, and startup-focused Incubate Fund will all benefit from this deal as previous investors in Pokelabo.

In its announcement of this acquisition, Gree says it will work with Pokelabo to better monetize and develop its properties while also having Pokelabo share its know-how with Gree’s other developers.