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Finance

Nokia Growth Partners makes $6m investment in MAG Interactive

Nokia Growth Partners makes $6m investment in MAG Interactive

Thu 14 Nov 2013 11:38am GMT / 6:38am EST / 3:38am PST
Mobile

45 million Ruzzle downloads attract attention of mobile investor

MAG Interactive, the Stockholm-based developer of iOS word-hit Ruzzle, has secured a $6 million investment led by Nokia Growth Partners.

The deal was announced on-stage at this week's Slush 2013 start-up event in Helsinki, where CEO Daniel Hasselberg spoke about the new partnership. The deal was founded largely on the global success of MAG's word game Ruzzle, which has seen 45 million downloads.

"Bringing such an experienced investment group on board at this stage of our development allows us to create a portfolio of successful games, while maintaining the DNA of our company," Hasselberg explained. "Becoming a significant studio recognised for mobile social games has been achieved by our commitment to constant improvement of our products, an approach that has made Ruzzle such a global success story. We are looking forward to working with NGP to maximise the opportunities its investment brings."

"NGP is looking for people that can build large sustainable companies and Daniel and the MAG team have demonstrated great potential with their first titles," added NGP principal Walter Masalin. "They are on track building the next major global gaming company from Scandinavia."

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