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A Maltese government initiative is hoped will create about 100 new game development jobs in the south European nation.
Key to the deal is the formation of media business TRC Family Entertainment, of which government arm Malta Enterprise owns a 15 per cent stake. TRC will help fund and grow a new game development studio that is to develop an MMO to be released in around 24 months.
Full financial terms of the arrangement were not disclosed.
In a prepared statement, the Malta government said it “has been very keen on supporting this sector as it represents the next-level development the country [wants] in establishing itself as an ICT location”.
The new company will be spearheaded by Chris Deering, who was CEO at Sony Computer Entertainment Europe when the PlayStation 2 business was trailblazing the industry.
"The investment in this company by Malta Enterprise is a signal to the global digital games industry,” said finance minister Tonio Fenech.
“It basically sends the message loud and clear that Malta is a good location for the development of digital games and is serious in its effort to increase talent and skill in this sector," he added.
