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Cloud gaming firm Playcast raises $10 million

Former Sony Online Entertainment exec joins board

Cloud gaming company Playcast Media Systems has raised $10 million in funding from JVP, MK Capital and previous investors Xenia and C.Mer Industries.

The company rolled out a high-definition games service in Europe late last year for set-top boxes, with titles from publishers such as THQ, Activision, Capcom and Codemasters.

"The Playcast service combines the latest in cloud computing with top-tier content to provide a AAA experience over existing pay-TV and cable networks," commented Guy de Beer, Playcast Media CEO.

"The partnership with JVP and MK Capital, with their deep understanding of the global media technology space, allows us to continue to grow throughout the world following the success we have experienced in Europe and Asia."

Along with the investment, JVP partner Gadi Tirosh and MK Capital's Yair Landau have been appointed to the Playcast board.

Landau, who was responsible for establishing Sony Online Entertainment, added: "Playcast has solved some very complex technological problems enabling a new and broader game-playing audience to experience console-level interactivity through their existing digital set-top boxes.

"With its unique technology, numerous game-publisher agreements and worldwide MSO/Telco relationships, Playcast is poised to build a meaningful business around the world."

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Matt Martin avatar
Matt Martin: Matt Martin joined GamesIndustry in 2006 and was made editor of the site in 2008. With over ten years experience in journalism, he has written for multiple trade, consumer, contract and business-to-business publications in the games, retail and technology sectors.
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