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Oberon Media Picks Up $20 Million For Casual Games
by Eric Caoili [PC, Console/PC, Mobile Phone, Casual]
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October 6, 2008
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The Infinity I-China Fund invested $20 million in multi-platform casual games company Oberon Media, which will go towards expanding the studio's publishing and distribution business. The two companies also hope that their partnership will enable Oberon to establish a presence and grow its business in China.
Founded in 2003 and headquartered in New York, Oberon's two primary business activities include a gaming platform offering management, aggregation, billing, and advertising tools; and casual game publishing services offering production, development, and distribution of casual games across multiple platforms (online, mobile, iTV) and at retail.
Oberon's Game Center gaming platform has been adopted by various digital and media companies, such as Microsoft, Comcast, Verizon, Electronic Arts, and MySpace.
Mark Chess, senior director Infinity Equity, which established the fund, added that the company is speaking with several potential portfolio companies in which to invest that would complement its "gaming cluster strategy."
"We have identified the gaming field as a strategic cluster for investments," says Infinity I-China Fund managing partner Amir Gal-Or. "China, which has a strong and rapidly growing local gaming market with more than $2B in annual sales and 50 million users, is building a reputation as an emerging site for game development studios. The Oberon Media investment, our flagship deal within the gaming cluster, is meant to serve as our cornerstone and a model for future Infinity I-China investments."
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