Fidelity Growth Partners Invests in InnoGames' Future
Poster: SySAdmin
Posted on May 18, 2010 at 2:21:01 AM
Fidelity Growth Partners Invests in InnoGames' Future
HAMBURG, Germany and LONDON, May 18, 2010-- Fidelity Growth Partners Europe (FGPE) a pan-European venture and growth
equity investor and InnoGames, a leading developer and publisher of
free-to-play online games, today announced a strategic partnership. FGPE has
taken a minority stake in the company and will provide advice and access to
its extensive partnership network to help InnoGames expand globally.
InnoGames currently has almost 50 million registered players across the globe
playing successful titles such as Tribal Wars, The West, and Grepolis.
"FGPE's investment - both in capital and serving as close
consultant and advisor - will enable us to take the company forward at a
faster pace", said Hendrik Klindworth, InnoGames, co-founder and Managing
Director. "The online gaming market is experiencing tremendous growth, and we
intend to be one of the dominant players. The combination of our gaming
know-how and FGPE's invaluable and wide-ranging experience will get us
there."
"InnoGames has every indication of a company that can become a
global success," said Davor Hebel, who led the investment for FGPE.
"InnoGames has developed and published some of the industry's most popular
browser-based online games, quickly building a community of millions of
engaged players. Our partnership will enable the team to focus on what it
does best, building great games; and allow us to focus on what we do best,
providing the advice and hands-on guidance that helps companies transform
their markets. Companies such as InnoGames, with the potential and aspiration
for greatness, are exactly the type we want to back. This is a fantastic
kick-off investment for our new GBP100 million European fund."
InnoGames' titles do not require any additional software; all that is
needed is an internet connection and a browser. The games are free to play
with the players opting to purchase various in-game advantages and virtual
goods. These types of games are growing in popularity over the world.
According to DFC Intelligence, an expert video game and entertainment
industry research company, this market is estimated at US$1.8 billion in 2010
with a 25% compounded annual growth rate expected over the next five years.
The three co-founders of InnoGames, Eike and Hendrik
Klindworth along with Michael Zillmer, will continue to manage the company,
along with the recent addition of Sven Ossenbruegen as chief financial
officer, who was formerly CEO of Gamigo. Davor Hebel of FGPE will sit on the
supervisory board, providing counsel and access to substantial resources.
InnoGames was advised by the M&A advisory company Corporate Finance Partners
on this investment.
About InnoGames:
InnoGames' roots go back to 2003, when founders Eike and
Hendrik Klindworth and Michael Zillmer developed the browser game Tribal
Wars. In 2007, they founded InnoGames GmbH, which has grown rapidly to become
one of the biggest developers and publishers of browser games globally.
Today, InnoGames is highly profitable and has almost 50 million registered
users across three successful game titles: Tribal Wars, The West, and
Grepolis.
About Fidelity Growth Partners Europe:
Fidelity Growth Partners Europe is a venture and growth
capital investor which backs entrepreneurial companies in the IT and clean
technology sectors across Europe. By combining a collaborative partnership
within an international network FGPE supports portfolio companies as they
accelerate their growth and become leaders in their fields. Building on
Fidelity's 40 year heritage of venture investing, the firm has established a
significant presence in Europe and invested in some of the market leaders
such as Seatwave and Curam Software. In January 2010, FGPE raised a GBP100
million fund dedicated to backing European technology companies.
For InnoGames For Fidelity Growth Partners Europe
Dennis Heinert Vanessa McDonald
dennis.heinert@innogames.de vanessa@balloupr.com
+49-40-78-89-33-568 +44-75-40-32-53-19
Source: InnoGames GmbH
For InnoGames, Dennis Heinert, dennis.heinert@innogames.de, +49-40-78-89-33-568; For Fidelity Growth Partners Europe, Vanessa McDonald, vanessa@balloupr.com, +44-75-40-32-53-19
HAMBURG, Germany and LONDON, May 18, 2010-- Fidelity Growth Partners Europe (FGPE) a pan-European venture and growth
equity investor and InnoGames, a leading developer and publisher of
free-to-play online games, today announced a strategic partnership. FGPE has
taken a minority stake in the company and will provide advice and access to
its extensive partnership network to help InnoGames expand globally.
InnoGames currently has almost 50 million registered players across the globe
playing successful titles such as Tribal Wars, The West, and Grepolis.
"FGPE's investment - both in capital and serving as close
consultant and advisor - will enable us to take the company forward at a
faster pace", said Hendrik Klindworth, InnoGames, co-founder and Managing
Director. "The online gaming market is experiencing tremendous growth, and we
intend to be one of the dominant players. The combination of our gaming
know-how and FGPE's invaluable and wide-ranging experience will get us
there."
"InnoGames has every indication of a company that can become a
global success," said Davor Hebel, who led the investment for FGPE.
"InnoGames has developed and published some of the industry's most popular
browser-based online games, quickly building a community of millions of
engaged players. Our partnership will enable the team to focus on what it
does best, building great games; and allow us to focus on what we do best,
providing the advice and hands-on guidance that helps companies transform
their markets. Companies such as InnoGames, with the potential and aspiration
for greatness, are exactly the type we want to back. This is a fantastic
kick-off investment for our new GBP100 million European fund."
InnoGames' titles do not require any additional software; all that is
needed is an internet connection and a browser. The games are free to play
with the players opting to purchase various in-game advantages and virtual
goods. These types of games are growing in popularity over the world.
According to DFC Intelligence, an expert video game and entertainment
industry research company, this market is estimated at US$1.8 billion in 2010
with a 25% compounded annual growth rate expected over the next five years.
The three co-founders of InnoGames, Eike and Hendrik
Klindworth along with Michael Zillmer, will continue to manage the company,
along with the recent addition of Sven Ossenbruegen as chief financial
officer, who was formerly CEO of Gamigo. Davor Hebel of FGPE will sit on the
supervisory board, providing counsel and access to substantial resources.
InnoGames was advised by the M&A advisory company Corporate Finance Partners
on this investment.
About InnoGames:
InnoGames' roots go back to 2003, when founders Eike and
Hendrik Klindworth and Michael Zillmer developed the browser game Tribal
Wars. In 2007, they founded InnoGames GmbH, which has grown rapidly to become
one of the biggest developers and publishers of browser games globally.
Today, InnoGames is highly profitable and has almost 50 million registered
users across three successful game titles: Tribal Wars, The West, and
Grepolis.
About Fidelity Growth Partners Europe:
Fidelity Growth Partners Europe is a venture and growth
capital investor which backs entrepreneurial companies in the IT and clean
technology sectors across Europe. By combining a collaborative partnership
within an international network FGPE supports portfolio companies as they
accelerate their growth and become leaders in their fields. Building on
Fidelity's 40 year heritage of venture investing, the firm has established a
significant presence in Europe and invested in some of the market leaders
such as Seatwave and Curam Software. In January 2010, FGPE raised a GBP100
million fund dedicated to backing European technology companies.
For InnoGames For Fidelity Growth Partners Europe
Dennis Heinert Vanessa McDonald
dennis.heinert@innogames.de vanessa@balloupr.com
+49-40-78-89-33-568 +44-75-40-32-53-19
Source: InnoGames GmbH
For InnoGames, Dennis Heinert, dennis.heinert@innogames.de, +49-40-78-89-33-568; For Fidelity Growth Partners Europe, Vanessa McDonald, vanessa@balloupr.com, +44-75-40-32-53-19