Cisco, Macromedia Invest $4 Million in Mobile Game Publisher Indiagames

Authored by Mark Hefflinger on April 29, 2005 - 5:26am.

Hong Kong -- Chinese wireless Internet firm TOM Online announced on Friday that Cisco and Macromedia have made a combined $4 million strategic investment in its mobile game publishing subsidiary, Indiagames. Following the transaction, Cisco and Macromedia will own 18% of Indiagames, while TOM Online's stake in the company will drop from 76% to 62%. Founded in 1999, the India-based company has distribution agreements for its games with over 100 wireless carriers, including Orange, Verizon, Sprint, Singtel, Airtel and Vodafone. As part of the deal, Indiagames will now also publish all of its titles on Macromedia's Flash Lite platform. "We now have Chinese, Indian and American investors, all leaders in their respective verticals," said Indiagames CEO Vishal Gondal. "This combination is really very unique and will surely help accelerate our global growth plans, keeping us on the cutting edge of mobile, broadband and Internet technology."
http://biz.yahoo.com/prnews/050429/nyf062.html
http://www.tom.com
http://www.indiagames.com