Friday 15th June/...In2Games, the pioneering videogame company which combines new games hardware with great software to create brand new gaming experience, has today confirmed specific details of a substantial cash injection– and how it intends to bring its critically acclaimed wireless motion sensing peripherals to a range of new formats.
The company has received£7.4m in return for a significant equity stake in the business– with this cash injection enabling it to cement plans to release its wireless motion sensing controllers across PlayStation 3 and Xbox 360.
Gametrak Fusion is codename for the firm’s premier technology, which will launch with a selection of bespoke mini games for Xbox 360 and PlayStation 3, with a large number of titles in all genres to follow. Gametrak Fusion is a remarkable ultrasonic 3D motion sensing technology which delivers performance, control and flexibility far in excess of that offered by existing wireless peripherals.
“We’ve had an extraordinary reaction to the technology since we began demonstrating the Gametrak Fusion prototype late last year,” says Elliott Myers, CEO, In2Games.“Retailers, games developers, financial institutions and press– every single person we’ve shown it to has been excited by its potential. This investment from Ingenious Media Active Capital Group will enable us to support the technology with an ambitious launch, bringing together titles from In2Games and our development partners as well as a wide variety of titles from third party publishers.”
Sanjay Wadhwani, a director of Ingenious Ventures, will be joining In2Games’s board as a non-executive director. The management team includes CEO Elliott Myers, Non-executive Chairman Mark Strachan, Director Harry Holmwood and Technical Director Steve Lavache.
Patrick McKenna, Director of IMAC, said, "We believe there is a really exciting opportunity ahead for In2Games to capitalise on key drivers of change in the video games market as they continue to roll out innovative hardware combined with great software. In Gametrak Fusion, In2Games has created the definitive motion gaming platform for the next generation of games consoles and I look forward to this product driving the company into its most exciting period yet."
Myers concludes:“We’re delighted to be working with Ingenious Media. The firm’s experience in a broad range of technology and media businesses will prove extremely beneficial to In2Games as we enter a period of massive growth.”
In2Games is dedicated to creating new and exciting gaming experiences through the creative combination of hardware and software. In2Games is a licensed publisher for Sony and Microsoft games consoles, has offices in the United Kingdom and Hong Kong and manufactures in southern China.
About IMAC: Ingenious Media Active Capital
IMAC is an investment company which aims to provide investors with capital growth from equity or equity related investments in predominantly unquoted media and entertainment companies. IMAC is an initiative of, and its investments are managed by, Ingenious Ventures Limited, which is the private equity division of Ingenious Media plc.