Electronic Arts and Firemint have so far declined to reveal the monetary terms of the contract, which is predictable to shut in four weeks. Murray, 37, was engaged for a meeting today.
Though, a basis with information of Firemint’s auctions said the corporation gathers $10 million in income a year and, based on this, tech manufacturing savers consider the sale cost would have been between $20 and $40 million.
For Flight Control alone, in January last year Firemint proclaimed it had sold 2 million copies at $1.19 a piece.
A separate source with relations to a major undertaking capital firm that spends in Technology Corporation predictable the corporation sold for between $25 and $100 million.
“They’ve got 60 people so they’d be costing at least $150,000 a head for sure. If there’s 60 of them, that probably means they’re spending $9 million a year at least in costs; if you assume that they’re making at least $9 million a year in revenue, even just on a revenue multiple of four or five times you imagine it’s somewhere between $25 and $100 million, depending on how crazy Electronic Arts were for it,” the source said.
“Even if you’re making $5 million a year in revenue you’re going to get $25 million.”
Murray started Firemint in 1999 after he graduated from the University of Queensland with a manufacturing amount. He originally did indoctrination work for other dangers until he exposed the iPhone and its profitable app store.
The Firemint acquisition capped off an astral 12 months for Australian technology entrepreneurs.
In July last year, Australian tech whiz Andrew Lacy made millions after selling his game app start-up Tapulous – accountable for the strike Tap Tap Revenges series – to Disney. He had beforehand been latent on the sofa of another Silicon Valley capitalist.
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