Online accessories retailer makes its first purchase in a move that sees it enter the gaming accessory market and widen its overall portfolio
Online retailer Mobile Fun has completed the acquisition of global mobile and gaming accessories manufacturer Playfect for an undisclosed fee.
The purchase, the first in the firm’s 15-year history, marks an entry to the gaming accessory market, whilst expanding on its list of mobile accessory offerings through its website.
Playfect, founded in Israel in 2008, specialises in manufacturing its own-branded mobile accessories such as cases, chargers, screen protectors, docking stations and car kits, as well as gaming products including controllers for leading brands Sony PlayStation, Xbox and Nintendo.
Its products are sold across more than 20 countries including the UK through leading retailers Argos, Amazon and John Lewis.
Playfect signed an exclusive UK distribution agreement with Kondor back in June 2011. However, with Mobile Fun set to launch its own distribution business this quarter, the future of that agreement is expected to end.
Mobile Fun managing director Mohammed Hussain (pictured) said: “This cements our position as a global online retailer while opening up a host of new opportunities.
“We now have a fully developed product design, sourcing and quality control capability ready to supply the retail and distribution sectors in both the UK and internationally.
“Our presence in China increases the speed at which we source an even wider range of products.”
Mobile Fun will take ownership of the Playfect’s sourcing office in Shenzhen, retaining around 10 staff. All stock will be shipped and dispatched accordingly from Mobile Fun’s 10,000 sq ft warehouse in Birmingham.
Mobile Fun’s website receives around 2.9 million monthly hits, and 33,000 sales.
The firm profits rose 28.3 per cent last year to £1.1 million – stated all acquisitions would be self funded.
Details of Playfect’s latest financial results were declined.