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Russia Developer Akella Gets VC Investment

Russia Developer Akella Gets VC Investment

November 11, 2005 | By Nich Maragos

November 11, 2005 | By Nich Maragos
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Akella, a Russian games developer whose past credits include Sea Dogs and Pirates of the Caribbean, has gained new investors in Quadriga Capital Russia and Intel Capital. The two new investors will allow Akella's business to grow into online and mobile games, while strengthening the company's presence throughout Eastern Europe.

Though the influx of capital into the company will be significant, Akella itself will continue to own over 50% of company stock, retaining controlling interest. Quadria's partnership will be less significant than Intel's, which will work with Akella to produce and optimize PC games in the near and far term. The first Intel-optimized games to benefit from the deal will be PT Boats, Captain Blood, and Age of Pirates.

"Intel Capital is excited to announce today's investment in Akella, one of Russia's leading gaming software companies," said Intel Capital president Arvind Sodhani. "Akella's long history of success demonstrates that Russia has become a key development environment for world class consumer software. Our hope is that Intel Capital will help Akella reach the next phase of growth and profitability."

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