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Oberon Gets $20 Million Investment
Wednesday, 08 October 2008
Oberon Media (owner of I-Play) has secured an investment of $ 20 million from the Infinity I-China Fund in order to enter the Chinese gaming market.
“We have identified the gaming field as a strategic cluster for investments. China, which has a strong and rapidly growing local gaming market with more than $2bn in annual sales and 50 million users, is building a reputation as an emerging site for game development studios. The Oberon Media investment, our flagship deal within the gaming cluster, is meant to serve as our cornerstone and a model for future Infinity I-China investments,” said Amir Gal-Or, managing partner of the Infinity I-China Fund.
“Expanding our business into China is an important part of Oberon Media’s global strategy. “We are very excited to have Infinity I-China as a strategic partner, as they have many substantial relationships in China. This new partnership will serve as an asset for extending our pursuits there and establishing an Oberon Media presence on the ground.” Said Tal Kerret, chairman of Oberon Media.
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