News
Oberon secures $20m investment
Tim Ingham Oct 6 2008, 3:19pm
I-play owner Oberon Media has just scored a significant boost from a Chinese investor.
Credit crunch? What credit crunch? Wall Street worries aren't stemming the flow of cash into the games industry it seems - I-play onwer Oberon Media has just scored a $20 million boost from a Chinese investor.
The Infinity I-China Fund has stepped up to help mulriplayform games specialist Oberon with its push into the Chinese gaming market.
“We have identified the gaming field as a strategic cluster for investments. China, which has a strong and rapidly growing local gaming market with more than $2bn 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,” said Amir Gal-Or, managing partner of the Infinity I-China Fund.
Tal Kerret, Chairman of Oberon Media, added: “Expanding our business into China is an important part of Oberon Media’s global strategy. “We are very excited to have Infinity I-China as a strategic partner, as they have many substantial relationships in China. This new partnership will serve as an asset for extending our pursuits there and establishing an Oberon Media presence on the ground.”
