Valhalla was incorporated under the Business Corporations Act (British Columbia) on November 26, 2014. All of the IP rights held by VGS Japan to DT were transferred to the Corporation pursuant to an intellectual property rights purchase and transfer agreement dated December 31, 2014 between the Corporation and VGS Japan.
On January 1, 2015, the Corporation acquired all of the issued and outstanding share capital in the following companies:
Valhalla Game Studios Ltd.
VGS Japan was incorporated in 2008 in Tokyo, Japan with the goal of developing and operating high-end video games for players around the world. In February 2010, VGS Japan started development of an action game on the Sony® PlayStation®3 and Microsoft® Xbox 360® gaming console platforms. VGS Japan acquired all the trademarks, IP and distribution rights of the game, which would become DT in June 2012. In December 2012, VGS Japan entered into a developer agreement with Nintendo® (the "Nintendo Agreement") for the completion of DT. In return, Nintendo® would get exclusive video gaming console rights to the first title of DT series and related publishing and distribution rights. Certain other rights of works stipulated in the Copyright Act of Japan such as program work, literary work such as script, music work such as musical compositions and sounds effects, art work such as character images and screenshots would be equally co-owned by Nintendo® and VGS Japan, and Nintendo is entitled to a 20% royalty on revenues derived from PC online version of DT. DT was released on the Wii UTM platform in the summer of 2015.
Valhalla Seven Ltd.
V7 was incorporated in 2010 in Tokyo, Japan. In 2010, V7 launched its first internally-developed Pachislot machine title, Marika no Ken, and received development orders from three companies for two Pachislot machines and one Pachinko machine. From 2011 to 2015, V7 released six original Pachislot machine titles while receiving 19 development orders from third parties for 23 Pachislot and Pachinko titles. One of V7's internally-developed games, Cinderella Blade, won the 2012 Pachislot Awards' Most Impressive Pachinko, Pachislot (MIP) award. Currently, V7 has eight development contracts with four parties to develop the software for Pachinko and Pachislot games.
Valhalla Networks Ltd.
VN, previously known as Valhalla Genius Ltd., was established in South Korea in 2014 to develop, operate and manage mass multi-player online games for PC users in addition to the maintenance and management of the Corporation's network infrastructure for online games. VN is strategically located in Seoul, South Korea, allowing the Corporation to leverage its local technology, network, infrastructure, relationships and talent base. During its first year of operation, VN received a development order from VGS Japan for the PC version of DT, as well as a marketing order to negotiate distribution of DT in China, Japan and Russia.
EIN Entertainment Ltd.
EIN was incorporated in 2009 in Saitama, Japan and continued into Tokyo, Japan on August 24, 2010. EIN develops and operates mobile applications for the users of smartphones, tablets and other mobile devices. In the first three years of operations, EIN focused on developing mobile applications for various categories with the release of 15 original iOS application titles as well as two (2) development orders. In 2012, EIN shifted its focus to developing mobile gaming software for smartphones and tablets. Since this shift, EIN has received numerous development orders of online games for smartphones from game publishers.
The Corporation successfully completed development of DT on the Nintendo® Wii UTM platform in accordance with the Nintendo Agreement. Nintendo® released the Wii UTM version of DT to consumers as follows:
- Released in Japan on August 4, 2015.
- Released in Europe on August 28, 2015.
- Released in North America on December 11, 2015.
Through the Corporation's wholly-owned subsidiary, VN, Valhalla will release an MMO version of DT on the PC, "Devil's Third Online (PC)", utilizing an in-game purchase revenue model. MMO is a type of large-scale game that features a permanent game world that can support thousands of players interacting with each other in real time. The Corporation plans to release DT in various markets around the world over the next twelve months, including markets in North America, Europe and Russia.