|This strategic acquisition and a new US$4.25M round of financing opens the US wireless entertainment market to InfraWorlds|
InfraWorlds announces today the acquisition of 995 SOFT, a developer and online distributor of lifestyle software applications for the mobile and PDA market.
995 SOFT is well known for the quality of its editorial and technical adaptations. The portfolio of applications will enrich InfraWorlds current offering with best sellers such as Backgammon, Chess, Solitaire, Mahjong, English Dictionary, Unit Converter, Bible, etc...
These titles, very popular in the US consumer market, are all part of the Top 10 best seller lists of web sites like Handango and Palm (R).
Sylvain Dufour, President and co-founder of 995 SOFT, will be in charge of the product marketing at InfraWorlds, harmonizing the offering.
Philippe Piernot, CEO and co-founder of 995 SOFT, will be in charge of the on-line distribution and will continue to focus on the relation management of our distributors.
"We admire the quality and attention to detail that InfraWorlds puts into each of its mobile games" said Sylvain. "We share the same vision of the mobile market. By joining forces, we are becoming global and are positioning the company for accelerated growth and solid performance for years to come"
The recent acquisition of the French studio Pastagames and now 995 SOFT is giving birth to a new InfraWorlds:
- Now a multi-platform editor and developer of games and utilities: JAVA, DOJA, SYMBIAN, Windows Mobile and Palm OS.
- Multi channel distributor :embedded, on-line http://www.995soft.com/, and working closely with operators and aggregators
- Larger geographical footprint: Europe and United States.
"InfraWorlds actively pursues a development strategy toward fast growing markets. 995 SOFT acquisition opens the door to smartphones and PDAs, on-line distribution and US consumer market, domains where they excel. We are happy to welcome Sylvain and Philippe with key roles in our organization" says Alain Staron, InfraWorlds President.
INFRAWORLDS RECEIVES EUR 3.55 MILLIONS
After a EUR 3.5 million financing round in March, InfraWorlds continues to forge ahead and announces a new round of EUR 3,55 million led by SOFINNOVA PARTNERS.
Thanks to this new capital, the company specialized in mobile phone entertainment pursues its development by taking up a strategy of external growth. In fact, after acquiring French videogames publisher Pastagames last April, InfraWorlds has begun a new development stage with the acquisition of American companies specialized in gaming and lifestyle applications.
From this perspective the American capital risk company Cross Atlantic Ventures (CAV), represented by Dan Newman, joins the investors' pool banking on InfraWorlds' technological know-how and publishing experience as well as its ability to distinguish itself in the strongly expanding market of mobile phone entertainment.
Sofinnova Partners remains InfraWorlds' prime investor.
"InfraWorlds follows a differentiation strategy in a booming market. The new funds and acquisitions allow us to position ourselves in the market in a unique way" emphasizes Alain Staron, President of the InfraWorlds Board of Directors. "We are also very happy to include CAV among our investors at a time in which our ambition was to enter the American market".
"We have decided to push InfraWorlds' growth by providing the company with the necessary means to carry out a true acquisition strategy. The fact American investors have invested in the company allows us to develop in the US market while at the same time minimizing risks", indicates Jean Schmitt, Associated Partner of Sofinnova Partners.
"Cross Atlantic Ventures has invested in InfraWorlds because we believe their management team has well positioned the company to become a global player. The combination of studio development capabilities, distribution channels, partners and global coverage positions the company in a leadership role in the mobile gaming sector." says Dan Newman.
About Sofinnova Partners:
Founded in Paris in 1972, Sofinnova Partners is one of Europe's leading independent venture capital firms. With EUR 900 million under management, Sofinnova Partners invests in start-ups and early-stage companies in information technology and life sciences. Its investment strategy consists of investing early in teams and projects with high potential, most often acting as lead or co-lead investor. Sofinnova Partners also benefits from a long-established relationship with its sister company in San Francisco, Sofinnova Ventures. Sofinnova Partners' teams consist of 12 professionals who bring market insight and technical expertise to portfolio companies. For further information, please see our web site: www.sofinnova.fr
Established in 2000, InfraWorlds is an international game developer and publisher specialized in embedded Java technologies, wireless games and entertainment applications for the mass market. InfraWorlds's solid expertise in new gaming technologies, coupled with unrivaled graphic creativity, has earned the company a solid reputation among the main players in this booming sector such as Nokia, TCL & Alcatel mobile phone, Sony Ericsson, Sagem, Motorola. Mixing creativity, innovation and simplicity, InfraWorlds truly extends the wireless entertainment market with a diversified portfolio of applications for handset manufacturers and mobile operators. InfraWorlds proposes new "way of having fun" for both men and women and contributes to the mass adoption of Mobile Games and fun applications.