Stockholm-based VC specialists EMCapital has assisted a group of Scandinavian investors in securing a new deal with Russian mobile and PC games developer G5 Holdings.
G5 Holdings incorporates a dedicated PC software development team, in addition to G5 Mobile - creators of a number of successful wireless games including Fight Hard 3D, Cuban Missile Crisis and snowboarding title Rider X 3D.
The company plans to utilise the new funding to restructure and streamline its internal development operations, secure new publishing deals for its forthcoming titles, and expand the company's reach into European markets.
Vlad Suglobov, G5 Holdings CEO, commented: "2005 was the fifth year of G5's stable growth, and it became the most successful in the company's history. We released several games for PC and mobile platforms and entered into cooperation with well known publishers. It was not surprising that in 2005 a number of potential buyers approached us. We have chosen the deal with EMCapital Limited because they offered optimal conditions and a clear strategy for further development of the company, which perfectly fit shareholder interests and management vision."
"G5 Holdings possesses both well structured management and advanced development resources with a success record of accomplishments. From our search of the former Soviet region development companies, G5 looked most attractive to both European gaming companies and venture investors," added Ein Stadalninkas, managing partner of EMCapital. "The new investors will take an active ownership role in restructuring the company, improving development efficiency and attracting new clients. The goal is to establish G5 Holdings as a recognised pan-European mobile and online game developer."
Developing original IP for the BREW platform since 2002, G5 mobile has received various industry awards, including Best Mobile Game in 2003 and 2004 at the Russian Game Developers Conference (KRI). The company is currently focusing on developing quality mobile titles for major wireless publishers, and hopes to utilise the new investment to further strengthen its existing partnerships, as well as forging new relationships for the future.