Games technology company to roll out SDK
Thursday 12th July/...Geomerics, the technology company that provides applications to dramatically enhance lighting effects within computer and video games, has announced that it has secured a £2 million investment from Trinity Hall, University of Cambridge.
Geomerics will use the investment to roll out its first application, "Enlighten", for the games industry, and to develop a suite of new products.
Following successful demonstrations at the Games Developer Conference in the USA earlier this year, Geomerics also confirmed that it has been invited to join both Microsoft's Xbox 360 tools program and Sony's PlayStation®3 tools and middleware programme. Work is currently in progress on the Software Developer's Kit (SDK), which will enable a broad range of games publishers to use Enlighten's enhanced capabilities in their computer and video games.
Gary Lewis, Chief Executive of Geomerics said: "We are delighted with this investment. This gives us precisely what we need to roll out our business plan and our long-term strategy to bring great lighting effects into games and make the gaming experience of millions even more rewarding.
"The enormous potential of the technologies we have, and the core IP in our first product Enlighten, will be developed with immediate effect. It's an exciting time and we are grateful to the many developers and publishers who have seen the benefit of Enlighten and what it can do for their games."
He added: "This investment will allow us to deliver the future products that will continue to revolutionise games, but it will also enable us to roll out plans to bring the benefits of our technology to other industries. The next few years are going to be extremely exciting for Geomerics."
Rapid computation of light reflection and global illumination is a key factor in creation of greater realism in computer games. The computer gaming market is forecast to grow at an average 11.4% compound annual rate to $46.5bn by 2010.
Geomerics was founded by ANGLE in 2005 to commercialise technology developed by the University of Cambridge's Astrophysics Department. With the assistance of ANGLE's proven management capabilities and the recent appointment of CEO Gary Lewis, who was former COO of Take Two Interactive Software, Geomerics has developed world-leading technology applications for the computer games industry.
Under the terms of the agreement, Trinity Hall is investing £2.0 million for 24.0% of the issued share capital of Geomerics' enlarged share capital. Post the transaction, ANGLE will retain a 47.9% share in the issued share capital.
Paul ffolkes Davis, Bursar of Trinity Hall, Cambridge said: "Trinity Hall is interested in supporting early-stage science-based companies in Cambridge, particularly where innovative technology has been developed within the University and/or its own Fellowship. The College has been impressed by Geomerics business plan and prospects to the extent of making a larger percentage investment in it than is typical within its modest Private Equity/Venture Capital portfolio. We are pleased to be partnering ANGLE and the academic founders in providing resources to help this exciting young company realise its potential.
Andrew Newland, Chief Executive of ANGLE plc said: "Following the recruitment of an industry leading Chief Executive, Gary Lewis, the investment from Trinity Hall represents another major step forward for Geomerics. The Company has a unique patent protected technology platform, which we are confident has the potential to revolutionise the growing computer games market."
Notes to Editors
Geomerics Ltd was founded in 2005 by ANGLE and developed under ANGLE's Progeny® programme. It is one of eight such companies in the ANGLE portfolio at present. Geomerics is an innovation-led company specialising in graphics software for the games industry and beyond. It is built on a combination of advanced in-house IP, a remarkable research team, and strong management experience. The company's first product is Enlighten. Enlighten radically transforms the way that lighting is handled in computer games. Instead of pre-baking the effects of global illumination into the scene they can now be computed at run time, allowing for fully dynamic lighting. This dramatically enhances realism as well as opening up a new world of creative possibilities for designers and artists.
Further information can be found on www.geomerics.com
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