IN-FUSIO RAISES $27 MILLION
Mobile Gaming Leader Furthers Expansion in U.S. Market, Firms Leadership Position in Europe with New Investment
Headed by Insight Venture Partners
PARIS, BORDEAUX LOS, ANGELES, NEW-YORK- August 4, 2004 - IN-FUSIO, the leading global game publisher and game services provider for mobile phones, today announced that it has raised $27 million in its latest round of financing. U.S. based venture capital firm Insight Venture Partners leads the funding, joining existing IN-FUSIO investors Banexi Ventures, Partech International, VPSA (formerly Viventures) and Innoven Partenaires.
The capital raised will help to further secure IN-FUSIO's leading market share position in Europe, as well as its growing presence in the U.S. mobile gaming industry.
"As the only mobile game service provider, IN-FUSIO is unique in its ability to enable wireless carriers to triple the revenue generated by a player's cellular phone. No other mobile game publisher today can boast such results," said Gilles Raymond, co-CEO and President, IN-FUSIO. "This new funding is key to accelerating our U.S. expansion through a series of strategic North American acquisitions that we have already started to discuss."
"Beyond building our U.S. presence, these funds will be used globally to reinforce our service, technology and know-how in the unique field of player community management" added Giles Corbett, co-CEO of IN-FUSIO.
Founded in 1998, IN-FUSIO pioneered the concept of downloadable games for mobile phones and has grown to be the largest mobile gaming company in Europe and China and since expanded its operations to the U.S. The management team's calculated and focused global expansion has placed IN-FUSIO as one of the most successful and profitable companies in the market with $14.4 million in revenues in 2003.
IN-FUSIO currently publishes 65 titles for more than 70 wireless carriers and 140 handsets worldwide. The biggest key to success for the company, however, has been its proprietary ExEn technology enabling management of game services for major mobile carriers including Vodafone D2, Orange France, SFR, Orange UK, Vodafone Omnitel, Telefonica Moviles and China Mobile. The company's management of game communities on behalf of wireless carriers worldwide has led to increased gaming activity resulting in significant increases in ARPU via expanded interactivity and marketing features inherent to IN-FUSIO's technology.
"IN-FUSIO is a key player in helping operators transform themselves from primarily voice driven revenues to a data services model, "said Jerry Murdock, Managing Director and co-founder of Insight Venture Partners.
IN-FUSIO's U.S. presence has grown since the acquisition of Cybiko with the signing of a licensing agreement with Microsoft Game Studios for top tier properties, including Age of Empires( 2 Gold Edition, Midtown Madness( 3, Zoo Tycoon( as well as a partnership with Qualcomm to port ExEn Gaming Extensions (EGE) to the company's BREW solution. IN-FUSIO also established a Los Angeles based headquarters in early 2004 and currently publishes more than twenty original IP and licensed mobile games for Verizon Wireless, Sprint and AT&T.
"Insight was attracted to IN-FUSIO's position as a global leader in the interactive content and game management space," said Jerry Murdock. "The company's unique ability to help carriers understand gamers and achieve orders of magnitude growth in ARPU made IN-FUSIO the player most likely to define the category and insure innovation for gamers and carriers."
"We are thrilled to see a fund of Insight Venture Partner's reputation and reach join the European investors of IN-FUSIO," said Michel Dahan, General Partner and Chairman of Banexi Ventures. "We all share the vision of creating a new service category that IN-FUSIO will undoubtedly lead."
IN-FUSIO is also currently considering Asian investors to help structure and further expand its operations in China, where it currently holds the largest market share of the mobile gaming market by both publishing and providing game service management to the largest carrier in the region.
About Insight Venture Partners
Insight Venture Partners, managing approximately $1 billion in funds, specializes in investing in high-growth software companies. Insight invests in entrepreneurial companies developing technology-based solutions that solve real industry problems. Headquartered in New York, Insight is dedicated to assisting companies achieve their goals where speed, expertise, and the ability to execute are the foundations of success. The firm has an outstanding track record, a proven investment strategy, and a strong professional team. More information on Insight is available at www.insightpartners.com.
With the largest market share of mobile games in Europe and China and rapidly expanding presence in the U.S., IN-FUSIO offers a diverse portfolio of games, entertainment and value added services to wireless carriers. At present, IN-FUSIO's 65 mobile titles have been enjoyed by 11 million players worldwide. From stand-alone Java(tm), BREW and i-mode (Doja) games to a fully managed and integrated games service, (ExEn, ExEn Gaming Extensions EGE for Java MIPD 2.0) IN-FUSIO has unparalleled industry experience. As a games publisher and game service provider, IN-FUSIO is a clear entry point for brands and game developers to effortlessly enter the mobile market.
IN-FUSIO customers include Verizon, Sprint, AT&T, Vodafone D2, Orange France, SFR, Orange UK, Vodafone Omnitel, Telefonica Moviles and China Mobile. The company currently has offices in Los Angeles, Chicago, London, Bordeaux, Moscow and Shanghai.
For more information, please visit the IN-FUSIO website at www.in-fusio.com.
For further IN-FUSIO press inquiries, please contact:
Brand & Communication Senior Manager
Tel: +33 557 773 815
GSM: + 33 (0) 630 512 294
Account manager UK
Tel: +44 (0) 1753 889100
M: +44 (0) 7887 998407
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