Russian Game Developer and Publisher Will Expand Throughout Eastern Europe
November 11, 2005
[This unedited press release is made available courtesy of Game Developer and its partnership with notable game PR-related resource Games Press]
Author: Akella
MOSCOW, Russia, November 7, 2005 - Quadriga Capital Russia and Intel Capital have invested in Akella, one of the largest developers of gaming software in Eastern Europe. The funds will help extend Akella's business into new market segments, such as network games and mobile content distribution, while also facilitating growth of the company's sales, marketing and advertising activities in Russia, the Former Soviet Union (FSU) and Eastern Europe.
The combined share of the two investors in Akella will be less than 50%; the majority of company stock has been retained by Akella's founders.
Akella has also signed an agreement with Intel to create and optimize future PC games and next-generation game consoles for Intel-based platforms. The two companies will work closely together to optimize soon-to-be-released games such as PT Boats, Captain Blood, and Age of Pirates for Intel's multi-core and entertainment PC platforms.
"Quadriga is pleased to announce an investment in a company that, in our opinion, has the best growth potential among its competitors in the Russian gaming software industry. Akella has managed to create a strong team of both managers and developers that will drive the company's future success. As for Quadriga, we will do our best to promote the development of our new investment," says Reinhard Kohleick, CEO of Quadriga Capital Russia.
"Intel Capital is excited to announce today's investment in Akella, one of Russia's leading gaming software companies," said Arvind Sodhani, senior vice president of Intel Corporation and president of Intel Capital. "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."
"Akella has been a strategic account for Intel dating back to the launch of Intel Pentium MMX," said Christian Morales, vice president of Sales and Marketing Group, co-general manager of Intel EMEA region. "They have demonstrated a very strong position in the world of PC games with such hits as 'Pirates of the Caribbean' as well as developing titles for several top-tier US gaming companies. Akella's commitment to fostering growth in the region was a key reason for Intel to further extend our relationship with them."
"This investment underscores the growth of the Russian gaming industry and will allow us to implement multiple innovative ideas and enhance our positions in both Russian and international markets," said Dmitry Arkhipov, vice president and the co-founder of the company.
About Akella
Akella is currently one of the leading and fastest growing developers, publishers and distributors of entertainment software in Eastern European.
A 12-year old company, Akella is a pioneer in the Russian gaming software business and the first to launch an officially localized game in Russia. Presently, the company has published over 300 entertainment products and has gained high popularity among gamers in Russia and abroad.
Akella owns several expert computer game studios and was the first company in Russia to start the development of console gaming projects. Akella has developed and launched computer game hits such as Sea Dogs, Pirates of the Caribbean (the first Russian game developed under a Hollywood license), and other games that gained wide popularity both in Russia and throughout the world. Akella has been acknowledged as the best localizer of computer games by Software Games Developer Conference (KRI) in 2003 and 2005.
About Quadriga Capital Russia
Quadriga Capital Russia Private Equity Fund II L.P. is the fund for direct financial investments managed by a German company, Quadriga Capital Russia. The fund investors are the European Bank for Reconstruction and Development, International Finance Corporation, and a number of other institutional and private investors. The fund has 120 million USD under management which are intended to be invested in Russian medium enterprises. Quadriga Capital Russia has representative offices in St-Petersburg, Moscow and Nizhniy Novgorod.
Quadriga Capital Russia invests in successfully developing companies. The most important factors for investment decisions are the interest of the company owners in partnering and a key strategy of growth and increase of business value.
As a shareholder Quadriga Capital Russia takes an active part in strategic decision-making of the companies using its vast experience of maintaining the companies in the process of their development and creating comprehensive business management systems. Quadriga is currently an investor in more than ten well-known Russian companies.
About Intel Capital
Intel Capital, Intel's venture investment program, focuses on making minority equity investments to grow the Internet economy in support of Intel's strategic interests. Intel Capital invests in hardware, software and services companies in several market segments, including computing, networking, and wireless communications. Intel Capital has invested more than US$4 billion in approximately 1,000 companies in more than 30 countries since 1991. Since its inception, about 160 portfolio companies have been acquired by other companies and another 150 have gone public on various exchanges around the world. Intel Capital employs investment managers in about 25 countries worldwide. Last year alone, Intel Capital invested more than US$130 million in about 110 deals with approximately 40 percent of its investments made outside the United States. For more information, visit www.Intel.com/capital.
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