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Asia Takes Interest In IGA With New Investments
by Leigh Alexander [PC, Console/PC]
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January 24, 2008
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In-game advertising company IGA Worldwide has announced it has closed an additional amount of Series B funding, from Translink Capital, Presidio STX and Itochu Corporation, bringing the company's total Series B funding $30 million.
Projecting that video game advertising will grow "into the billions" globally by 2012, IGA says the additional funding will support its goal to take a leadership position in the industry.
Additionally, two of the investors are significant Asian financial organizations -- aside from Itochu, Presidio STX is a subsidiary of Japanese conglomerate Sumitomo Corporation -- and IGA says this is evidence of its growing presence in the region.
IGA CEO Justin Townsend commented, “We are very pleased to have Translink Capital, Presidio STX and ITOCHU Corporation among our investors. This investment is an exceptional endorsement for the market and it will allow IGA to further expand its global in-game advertising footprint to the most technologically-savvy populations of gaming enthusiasts in the world."
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