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June 13, 2006
German Games Developer 10tacle To Float
Germany's 10tacle Studios, a high-end games developer, aims to raise about €20M on the Frankfurt stock exchange next week. The shares, mainly new ones, will be offered on the General Standard market (not the lightly regulated Entry Standard).
10tacle, which develops racing games with rich graphics, as well as role playing and combat games (first person shooters), has annual sales of €17M, a positive EBIT, employs 180, and has studios in Germany, France, Singapore, UK, and Bratislava, it reports.
Back in April, 10tacle raised an undisclosed amount from Munich Venture Partners, along with other unnamed investors. It was an interesting VC investment - more about access to technology than it is about money.
Although a newcomer to the VC market here, Munich Venture Partners has close ties to the Fraunhofer Institute whose claim to fame is the development of MP3, among other goodies. The deal is meant to give 10tacle access to Fraunhofer's R&D teams to build on the startup's exisiting gaming engine, or middleware, platform.
Read - Spieleentwickler 10tacle bietet Aktien zu 11,75 bis 13,50 (reuters)
Posted on June 13, 2006 03:43 PM | Posted to Games (PC and other) | IPO | News And Updates | Permalink
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