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Ingenious invests £7.76 million

Article Date:  Jun 11 2007

Ingenious Media Active Capital (IMAC) has completed an investment of up to £7.76 million to take a significant equity stake in the pioneering video games company, In2Games. This is the eighth investment that IMAC has made since its IPO in April 2006.

IMAC’s funding commitment includes an initial tranche of £4.56 million with a further £3.2 million to follow.

In2Games aims to take advantage of two key trends in the video games market – the performance of the ‘next generation’ video games consoles allowing peripheral and software developers to launch innovative new products which were not possible on older platforms and the increasing breadth of people playing video games as more and more ‘social gaming’ applications are released.

Patrick McKenna, director of IMAC, says: ‘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.’

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