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July 16, 2007
GDI Plots €1B Flotation
This one seems to have come out of left field. Virgin owned Game Development International is net yet a fully launched business and it is talking up a €1B listing in the UK. Amazingly, the full commercial launch of AWOMO is not scheduled for the end of the year and in fact they barely even have a Web site at this point.
(Editors note: Slow it down fellows. Let's make sure that it works and they you can make money!)
Virgin Games has a 20% stake in GDI, which is currently drawing up a prospectus prior to seeking a dual listing in London and Frankfurt.
The start-up is based in Germany where it has created an online virtual world that some see as similar to Second Life. However, we don't really see the similarity, rather it seems like more of a competitor to Steam or Bittorrent as rapid game downloading platforms.
GDI brands its 3D-generated reality technology A World of My Own (AWOMO). It allows PC users to rapidly buy, download and play a game. The Independent reports that GDI has agreements to distribute 100 games from 18 publishers on its AWOMO platform.
View - the Independent story
Posted on July 16, 2007 10:16 PM | Posted to | Permalink
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