FXLabs Buys Game Portal Knibble.com

FXLabs Studios, developer of video games in India, has entered into a definitive agreement to acquire Interactive Media Technology, Inc., a US-based company that owns one of the world's largest online casual games portals, knibble.com.

FXLabs will pay USD 3 million in stock to acquire 100% of IMT.

With over 10,000 online causal games which can be played for free, Knibble has emerged as the best destination for game developers to showcase their talent, wherein registered members can submit new games, add a description, suggest a content rating and add tags.

Sashi Reddi, Founder and Chairman of FXLabs said, "With the acquisition of Knibble we have expanded our capability from being a game developer to a company that will be directly delivering world class game play experience to consumers globally. We are extremely optimistic about emerging markets like India driving worldwide online game revenues and we believe that this is a terrific move for both FXLabs and Knibble."

Knibble games will be available and can be played on the iPhone, Nintendo Wii console and other traditional and non-traditional gaming platforms.