Asia
iCandy Acquires Renowned Lemon Sky Studios, To Form Largest Game Development Company in Australia and Southeast Asia
iCandy Interactive Limited announced its 100% acquisition of the leading Southeast Asian gaming studio, Lemon Sky Studios. This acquisition adds strategic value and significant scale to iCandy’s existing capabilities. It will form the largest pure-play game development company on the Australian Stock Exchange, and in Australia and Southeast Asia too, with more than 450 employees while generating no less than A$17 million (US$12.36 million) revenue per annum.
With significant interest and best-regarded growth in gaming driven by the metaverse concept, iCandy Interactive and Lemon Sky will be a leading powerhouse through its regional expansion plans in developing casual and AAA gaming on blockchain for the open metaverse.
The metaverse is a virtual world that allows work and play, shared by millions (or billions) of people. It is built with next-generation technology encompassing Virtual Reality, Augmented Reality and Video and Gaming technologies.
iCandy Interactive’s core business is in game development, game publishing, and esports. The company is the co-founder of the global esports league and platform, Esports Players League (ESPL), fast-growing across 17 countries in Southeast Asia, South Asia, Latin America and Europe.
Games on the iCandy network are played by over 360 million mobile gamers worldwide. The gaming studios based in Malaysia, Singapore and Indonesia have won multiple awards, including Google Play’s Best of 2016 and 2017 New Android Excellence Game Award* Games Award for Crab War and other various coveted international events.
Its latest game release, Claw Stars, is a top-rated mobile game with over 1 million downloads since its initial release in July 2021. It has received more than 50,000 4-star and 5-star reviews on Google Play and App Store.
Founded in 2006, Lemon Sky Studios is an award-winning video game and animation studio world-renowned for providing innovative visual art solutions for critically acclaimed
AAA gaming titles ranging from Overwatch 2, Call of Duty – Infinite Warfare, to SimCity, Diablo 3, StarCraft: Remastered, amongst many other illustrious titles.
The studio has amassed an incredible clientele over its 15-year history, working with gaming industry leaders such as Blizzard Entertainment, Naughty Dog, 2K Games, Square-Enix, Bandai Namco, Microsoft Studios, EA Entertainment, Disney and Nickelodeon.
“Lemon Sky Studios is a phenomenal acquisition and an excellent addition to iCandy Interactive. We now have this unparalleled capability in the region, we will focus a fair bit of our newly gained superpower to make high-quality games for the metaverse, arguably the most important development for the gaming world.” says Kin W. Lau, Chairman of iCandy Interactive.
He adds, “Lemon Sky Studios’ track record in creating world-class visuals for AAA games is highly regarded in the industry. To merge our expertise with a studio like Lemon Sky is truly phenomenal, and we cannot wait to see the outcome of integrating our teams,”
“Collaborative partnerships in the creative industry are pertinent to keeping things fresh and innovative. We are positive that this merger will encourage creative working methods and bring about new ideas. We are extremely excited about the possibilities that lie ahead,” said Cheng-Fei Wong, CEO of Lemon Sky Studios.
The acquisition will be at a valuation of MYR135 million (A$44.5 million, US$32.4 million), to be fulfilled together with cash and newly issued iCandy shares.
Concurrent with the acquisition, iCandy has also announced that it has raised A$40 million (US$29.1 million) from institutional investors via a placement that is heavily oversubscribed.
Leading iCandy’s latest fundraising round is another gaming heavy-weight, Animoca Brands, iCandy’s cornerstone investor. Animoca is a global leader in gamification technology and blockchain gaming with an extensive portfolio of over 100 investments in NFT-related companies and decentralised projects contributing to building the open metaverse. They raised more than US$200 million in 2021 and is currently valued by investors at US$2.2 billion. Separately, The Sandbox – Animoca’s subsidiary raised US$93 million recently, in a round led by Softbank Vision Fund 2.
The global video game industry is estimated to be worth A$214.33 billion (US$155.95 billion) in 2020**. With the APAC region leading the industry at 49% of the worldwide market, there is a clear pathway for growth with enormous upside potential expansion.
Powered by WPeMatico
Asia
World Esports Summit Celebrates Its 10th Edition in Busan
The World Esports Summit returns to Busan, South Korea, for its 10th edition, taking place on 10–11 February 2025.
Hosted at the Wyndham Grand Busan, the Summit will bring together 40+ speakers from the international esports ecosystem, including representatives from federations, publishers, global brands, sports organizations, technology companies, and public institutions.
Over the past decade, the World Esports Summit has provided a platform for dialogue and cooperation among stakeholders shaping the world of esports. The 2025 edition will continue this role, offering space for discussion on current developments, industry challenges, and future directions.
The Summit will feature contributions from a wide range of organizations, including Alibaba, FIBA, FIFAe, Tencent, Moonton, NetEase, FIA, Sportradar, EFG, Good Game, Telekom, among others.
Across two days, participants will take part in keynote sessions and panel discussions addressing topics such as esports governance, international collaboration, industry development, integrity, and the continued convergence of esports and traditional sports.
Further information on the program, speakers, and registration is available on the official World Esports Summit website.
The post World Esports Summit Celebrates Its 10th Edition in Busan appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Asia
Insurgence Gaming Company Expands Grassroots Vision with MOBA Legends 5v5 Discord Play-Ins
Following the launch of its inaugural women-focused VALORANT tournament La Imperia, the Insurgence Gaming Company has announced its second competitive initiative, MOBA Legends 5v5 Discord Play-Ins, a series of open community tournaments created to make organised competition more accessible to emerging players.
While La Imperia introduced a visibility-led invitational format, the MOBA Legends 5v5 Discord Play-Ins take a different approach. The series is built around open participation and will be hosted entirely online, with all tournament operations managed through Discord. This allows teams from across India to compete in a structured setting without the restrictions often associated with invite-only events.
The Play-Ins are designed as a starting point for players and teams who want to experience organised competition. Matches will be played in a 5v5 MOBA Draft Pick format, with scheduling, match reporting, and communication handled through dedicated Discord channels.
The announcement continues Insurgence Gaming Company’s early focus on grassroots esports. The company was created to address gaps in India’s competitive ecosystem, particularly at the amateur and semi-professional level where consistent tournament opportunities are still limited.
Speaking on the launch, Jasper Shabin, Founder of the Insurgence Gaming Company, said: “With La Imperia, we focused on visibility. With the Discord Play-Ins, the focus shifts to access. Competitive players need regular places to play, improve, and test themselves, not just one-off tournaments. MOBA Legends 5v5 is one of the most accessible competitive titles on mobile, which makes it a strong fit for an open, community-driven format.”
Beyond competition, the Discord Play-Ins are also intended to build a sense of continuity. Players will have access to channels dedicated to match coordination, tournament updates, and post-game discussion, helping teams stay connected beyond a single tournament run.
With the MOBA Legends 5v5 Discord Play-Ins, the Insurgence Gaming Company continues to shape its identity around community-first formats, pairing visibility-led initiatives like La Imperia with open competitive pathways that support long-term grassroots growth in Indian esports.
The post Insurgence Gaming Company Expands Grassroots Vision with MOBA Legends 5v5 Discord Play-Ins appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
ALGS 2026 Championship
S8UL Esports secures historic top five finish at ALGS 2026 Championship; bags INR 1 crore in prize money
S8UL Esports, a global powerhouse in esports and gaming content, delivered a landmark performance by finishing among the top five teams globally at the Apex Legends Global Series (ALGS) 2026 Championship, held in Sapporo, Japan from January 15 to 18. This result represents the best ever finish by an Indian organization on the Apex Legends global stage, setting a new benchmark for Indian esports at the highest level of international competition.
The ALGS 2026 Championship, the crowning event of the Apex Legends competitive calendar, brought together 40 of the world’s most consistent and high-performing teams from the year-long global circuit. S8UL’s all-Australian roster featuring Rick Wirth (Sharky), Benjamin Spaseski (Jesko), and Tom Canty (Legacy), led by head coach Harrison Rogers (Rogers), delivered a standout campaign and emerged as the only South Asian team to secure a Top 5 finish at the premier international Apex Legends event. The team earned USD 120,000 (approximately INR 1 crore) from the tournament’s USD 2,000,000 (approximately INR 18.14 crore) total prize pool.
Commenting on the achievement, Animesh Agarwal, Co-founder and CEO, S8UL, said, “Over the years, we have built one of India’s strongest gaming creator ecosystems and a solid foundation in content. In the last 18 months, we have deliberately expanded our focus to global esports investments across multiple titles, and performances like this validate that vision. Our ambition is to compete and win at the highest level worldwide. We are investing deeply, assembling world-class international rosters, and representing S8UL on the global stage from India. A top five finish at ALGS is a major milestone, and it marks only the beginning of what we believe will be a very strong future for S8UL in esports.”
S8UL began their campaign in Group B, navigating a demanding round-robin stage where all 40 teams were divided into four groups of 10. The team’s consistent performances saw them finish among the top 20 teams, earning a spot in the Winners Bracket and keeping them firmly in title contention.
From there, S8UL qualified for the Grand Finals, where the remaining 20 teams competed under the high-pressure Match Point Format. Under this system, a team must reach 50 points and then secure a match win to claim the championship, with the remaining teams ranked by total points. Across nine final matches, S8UL accumulated 64 points to finish fifth overall, just one point behind fourth-placed GROW Gaming, underlining how closely contested the championship was.
“The margins at this level are extremely fine, and the team showed tremendous composure throughout the tournament. From the group stage through to the finals, the players displayed adaptability, trust, and resilience. Finishing in the top five globally is a major milestone, and it reinforces our confidence in this roster’s ability to contend for championships in the future,” commented Harrison Rogers, coach of S8UL’s Apex Legends team.
S8UL’s performance at the ALGS 2026 Championship builds on the organisation’s growing presence in international Apex Legends competition. In 2025, S8UL competed at the ALGS Midseason Playoffs as part of the Esports World Cup in Riyadh, where the organisation also became the first Indian team to be selected as a Club Partner for the tournament. With consecutive appearances at Apex Legends’ premier global events, S8UL continues to establish itself as a consistent contender on the world stage and a flagbearer for Indian esports internationally.
The post S8UL Esports secures historic top five finish at ALGS 2026 Championship; bags INR 1 crore in prize money appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
-
Latest News5 days ago
N1 Partners Hosts the N1 Puzzle Promo Grand Final and Reveals the Helicopter Winner at iGB Affiliate 2026 in Barcelona
-
Games Global6 days agoGames Global and Stormcraft Studios extend the supernatural franchise with Immortal Romance: Sarah’s Secret Power Combo
-
Amusnet6 days agoWeek 4/2026 slot games releases
-
Anthony Dalla-Giacoma Chief Commercial Officer at Swintt7 days agoSwintt Cruises the River of Fortune in Sun Wind Cash Boat
-
ADG6 days agoArizona Department of Gaming Names Juan Carlos Estrada as Boxing and Mixed Martial Arts Executive Director
-
Anton Ivannikov CPO at Playson7 days agoPlayson’s Vegas Glitz Shines with Dual Bonus Features
-
Battle Royale7 days agoPrime Rush Goes Live in Early Access, Bringing a Brazil-First Mobile Battle Royale to Players
-
Attorney General Andrea Joy Campbell7 days agoAG Campbell Secures Court Order That Will Block Kalshi from Offering Unlawful Sports Wagers in Massachusetts



