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Perk, the company that used to own engine provider Corona Labs, has decided to sell the business to its own CEO, Roj Niyogi.
Roj Niyogi was chosen as CEO of Corona last December after Perk’s acquisition of the firm for $2.3m. Pocket Gamer states that he will now leave his role of President and Board Member at Perk to work solely on Corona.
Perk CEO Ted Hastings reports that his company has been investing more than $1m into Corona Labs every quarter. The sale is believed to be Perk’s idea of benefiting on those numbers.
Niyogi was also a co-founder of Perk. He will now have to return all of his stock to Perk as part of the agreement and get $1.75m in return. It is also stated that over the next 12 months, Perk will pay him up to $750,000.
I’m excited for the next chapter in building Corona and also for the ongoing partnership with Perk. It has been an amazing experience from co-founding Perk, taking it public on the TSX, and now focusing on Corona.