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O’Melveny’s Sieben Quoted on Deal for Gaming Company Kabam Inc. in Daily JournalJanuary 17, 2013 The Daily Journal’s January 17, 2013, article “O'Melveny Aids Gaming Company in Cross-Border Purchase notes that O'Melveny & Myers LLP represented social gaming company Kabam Inc. in its purchase of Vancouver-based Exploding Barrel Games Inc. Partner Paul Sieben led O'Melveny’s Silicon Valley-based team, which included associates Katherine McCormick and Sue K. Lai.
Sieben told the Daily Journal the deal reflects a broader trend of small private companies acquiring other companies of the same size. "The cost of starting a company has gotten so low, and in the gaming industry, the cost of just getting a product up and running is quite low," he said. “You have a lot of companies that have funding, have a product out the door, and have got a business," Sieben added, noting that angel investors or seed financing have in some cases eliminated the need for Series A and later-stage financing rounds. "Bigger companies are looking for innovation and can buy these companies for pretty good purchase prices that they wouldn't be able to with rounds of institutional venture financing," he said.