Hands-On takes hands off Europe, Middle East and Africa: Game distributor sells off parts of biz to Connect 2 Media

Hands-On Mobile Inc. said it has spun off “the bulk” of its business in Europe, the Middle East and Africa to Connect 2 Media in exchange for a minority stake in the cross-platform game publisher.
Connect 2 Media publishes and distributes games for the Internet, interactive television and mobile phones. Hands-On, which earlier this year sold its Korean operations to Electronic Arts, will maintain a reciprocal global publishing partnership with the newcomer.
London’s Acuity Capital L.L.P. is backing the deal with an $8.4 million investment in Connect 2 Media.
“The gaming market has enormous potential to extend brands across platforms,” said Antony Fraser, director of Acuity Capital, “and Connect 2 Media is well-positioned to exploit this.”
Hands-On has struggled to gain traction in a space dominated by a handful of larger players, but the company has seen recent success with mobile versions of Guitar Hero, a popular console title.