IGA Worldwide's Series A expands to $17 million with new
investment from Intel Capital
Intel Capital joins a world-class consortium of Venture
Capital Investors in IGA Worldwide co-led by Easton Capital Group,
Morgenthaler Ventures and DN Capital
News Release July 5, 2006 IGA Worldwide, the leading
independent in-game advertising company, announced a combined
$5 million investment from Intel Capital and IGA's existing
investor group to complete a Series A funding round that totals
$17 million. A consortium of investors co-led by New York-based
Easton Capital, Morgenthaler Ventures and including existing
investor DN Capital had earlier subscribed to the Series A
funding round initially announced at $12 million. "Intel
Capital's investment in IGA Worldwide will be used to further
accelerate our strategic relationship building programme with
the leading game publishers around the world," said IGA
Worldwide CEO Justin Townsend. "As we see the in-game
advertising market mature, the revenue from all forms of brand
placements in games will be an important source of income for
game publishers." "The explosive growth of digital gaming is
attracting millions of new users and is a key element of
Intel's vision for the Digital Home," said Damien Callaghan,
Strategic Investment Manager at Intel Capital. "IGA's products
enhance this opportunity by enabling game developers and
publishers to earn additional revenue ensuring the continuation
of a vibrant industry - an issue of importance to Intel and its
customers." IGA Worldwide will use the funding to expand its
relationships with publishers and continue to extend its global
operations in support of a growing base of customers in North
America, Europe and Asia. As a conduit between advertisers,
agencies and publishers, IGA Worldwide and its strategic
communications consultancy IGA Hive provide the expertise,
services and infrastructure to tap into a mass entertainment
audience that reaches out to 150 million people in the US
alone, predominantly in the lucrative and notoriously
hard-to-reach 18 to 34 year old male audience. Industry sources
state the cost of developing games for new platforms is now
estimated at $10 to $30 million. In-game advertising provides
publishers with a valuable new revenue stream as well as
brand-funded game content and co-promotional exposure, helping
to offset the commercial risks of bringing exciting new titles
to market. (370 words) NOTES TO EDITORS About Intel Capital
Intel Capital, Intel's venture capital organisation, makes
equity investments in innovative technology start-ups and
companies worldwide. Intel Capital invests in a broad range of
companies offering hardware, software and services targeting
enterprise, home, mobility, health, consumer Internet and
semiconductor manufacturing. Since 1991, Intel Capital has
invested more than US$4 billion in more than 1,000 companies
spanning more than 30 countries. During this time, about 160
portfolio companies have been acquired and another 150 have
gone public on exchanges around the world. In 2005, Intel
Capital invested about US$265 million in about 140 deals with
approximately 60 percent of funds invested outside the United
States. For more information on Intel Capital and its
differentiated advantages, visit www.intelcapital.com
<http://www.intelcapital.com> . About IGA Worldwide, Inc.
( www.igaworldwide.com) IGA Worldwide is the global leader in
360-degree in-game advertising solutions, helping brands to
achieve measurable results in the world's fastest growing and
most engaging new communications medium. Through its
proprietary ad serving network, Radial ®, IGA enables
advertisers to dynamically target millions of engaged consumers
across a broad range of game platforms, titles and genres,
while its wholly-owned communications consultancy, IGA Hive
delivers strategic consulting services and exclusive access to
unique integrated product placement and co-promotion
opportunities. Headquartered in New York with offices in London
and Berlin, the group is backed by Easton Capital Group,
Morgenthaler Ventures and DN Capital. IGA has recently been
voted by ad industry-leaders as the 'Breakout Company of the
Year 2006' and as a 'Top 100 Private Company' in the media and
entertainment sector in the OnHollywood awards. For further
press information please contact: Drew Benvie or Helen Cleaves
at LEWIS Tel: +44 (0) 20 7802 2626 Fax: +44 (0) 20 7802 2627
Email: drewb/helenc@lewispr.com Web: www.lewispr.com For IGA
Worldwide enquiries, please contact: Peter Bilotta Tel: +44 (0)
20 7250 4340 Email: pbilotta@igaww.com Web:
www.igaworldwide.com
