Asian triple-A outsourcing firm Winking Studios has acquired China's Mineloader. 

The deal is worth £16.3 million ($19.87 million), broken up into an upfront payment of $14.7 million and the remainder being paid out over the next five years based on whether the Shanghai-based outfit hits performance milestones. 

Mineloader was founded in 2003 and is an art outsourcing developer. 

“This marks our largest acquisition to date and represents a pivotal step that augments our position in the global video games industry, unlocking new horizons for growth and innovation," Winking Studios CEO and founder Johnny Jan said.

“Game art is essential in a video game's development, serving as the visual foundation and creative ingenuity that engages players and shapes their gaming experience. Together with a reputable track record and a speciality in game art production, Mineloader’s team of more than 460 employees will be a valuable addition to our Group’s existing headcount of over 800, boosting our service offerings in this segment and adding new clients. Mineloader’s established experience and presence in the Japanese market is also a notable value add to our Group’s business networks.”