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Beanbag Studios Seeks $6 Million Investment Deal
by David Jenkins [PC, Console/PC, Mobile Phone, Mobile Console]
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December 19, 2007
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Beanbag Studios founder Steve Bergenholtz has announced that the recently founded casual games development house is currently seeking $6 million to $8 million from investors in order to fuel a major expansion of the Canadian based studio in 2008.
The founder of the now Electronic Arts owned Sandbox Studios recently established Beanbag Studios with offices in both Plano, Texas and London, Ontario. As revealed to Gamasutra in a recent interview, Beanbag has acquired the exclusive worldwide rights to develop interactive titles based on the For Dummies how-to books.
According to Bergenholtz, speaking in local newspaper The London Free Press, the company is to receive help from the London Economic Development Corp. in terms of attracting investors.
The company’s expansion plans call for an increase in employees from 30 to 100, an expansion into the production of informercials for products such as software and bidding for the rights to entertainment properties owned by MGM, CBS and NBC.
Amongst the company’s first new products will be a series of titles based on classic American TV shows including I Love Lucy, The Honeymooners and The Three Stooges.
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