Two investment firms have bought a majority stake in online games maker Bigpoint for $350 million.
Summit Partners and TA Associates are purchasing a 70 per cent stake in the company from Comcast Interactive Capital's Peacock Equity Fund, while founder Heiko Hubertz retains 30 per cent.
"The investment by TA Associates and Summit Partners is a validation of Bigpoint's leadership position within the gaming industry, and will give us a huge boost toward becoming one of the most successful gaming companies worldwide," said Hubertz.
"Summit Partners and TA Associates are supporting Bigpoint's international expansion - a course we set out upon in recent months with the opening of new offices in the United States and Brazil. I'm looking forward to a future partnership of mutual trust and cooperation."
The move values Bigpoint at more than $600 million, Hubertz told Business Week. The company claims an audience of more than 190 million registered users and over 700 employees.
"We look forward to making this investment in Bigpoint alongside Summit Partners," offered TA Associates managing director John Meeks.
"With a highly scalable platform, revenues diversified across numerous games and multiple geographies, and a highly attractive free-to-play model, we anticipate significant continued growth for Bigpoint."
Upcoming titles from Bigpoint include The Mummy Online and Drakensang, complimenting a portfolio of titles such as Dark Orbit, Battlestar Galactica Online and Farmarama.