Investments from Leading Asian Financial Conglomerates to Support IGA's
Global Growth Strategy
NEW YORK, Jan. 24 /PRNewswire/ -- IGA Worldwide, Inc., the leading
global independent in-game advertising network, today announced it has
closed an additional amount of Series B funding from international
investors Translink Capital, Presidio STX, LLC, a subsidiary of Sumitomo
Corporation and ITOCHU Corporation. This secondary investment increases the
total value of funds raised in this round to nearly $30 million.
Today's announcement further establishes IGA's leadership position in
videogame advertising, a sector poised to grow into the billions globally
by 2012; the fastest-growing major advertising medium. In addition,
investments from two of Asia's leading financial conglomerates are
testament to the demand for IGA's value proposition in Japan, Korea and
China, some of the world's most advanced gaming and media markets.
"We are very pleased to have Translink Capital, Presidio STX and ITOCHU
Corporation among our investors," said Justin Townsend, Chief Executive
Officer, IGA Worldwide. "This investment is an exceptional endorsement for
the market and it will allow IGA to further expand its global in-game
advertising footprint to the most technologically-savvy populations of
gaming enthusiasts in the world."
"We are pleased to participate in this round," added Toshi Otani, Co-
Founder and Managing Director, Translink Capital. "Our mission is to make
meaningful investments in technology companies with high-growth potential.
We are confident the value proposition IGA poses to the global gaming and
media markets will drive the necessary revenue to support the company's
expansion internationally."
In 2007 IGA announced it had closed on an initial $25 million in Series
B funding in a round led by GE/NBC Universal's Peacock Equity and KTB
Ventures. JMP Securities acted as exclusive financial advisor to the Board
and Management of IGA in both the initial Series B and this most recent
transaction.
About IGA Worldwide
IGA Worldwide, Inc. (http://www.igaworldwide.com) is the largest dynamic
in-game advertising company with a proprietary ad serving network. The IGA
Worldwide Radial Network(SM) enables advertisers to target millions of
engaged gamers across a wide range of platforms and genres. IGA Worldwide
has already delivered campaigns for diverse brands such as; 20th Century
Fox, Ben Sherman, Discovery, FHM, Hawaiian Airlines, Intel, Jeep, MTV, and
T-Mobile. IGA Worldwide also provides strategic consulting services
including integrated product placement and promotion through its dedicated
creative solutions department. Headquartered in New York with offices in
London and Berlin, the group is backed by Peacock Equity (a joint venture
between GE-Commercial Finance and NBC Universal), Easton Capital Group,
Intel Capital, Morgenthaler Ventures, KTB Ventures, DN Capital, Translink
Capital, Presidio STX, LLC. and ITOCHU Corporation.
SOURCE IGA Worldwide, Inc.
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Related links:
http://www.igaworldwide.com
CONTACT:
Wilson Cleveland, of CJP Communications,
+1-212-279-3115 x.207, wcleveland@cjpcom.com, for IGA Worldwide,
Inc.
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