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Game Developer Destineer Gets $12 Million Equity Investment

Authored by Mark Hefflinger on April 28, 2006 - 9:01am.
Minneapolis, Minn. - Destineer, a developer and publisher of video games and virtual training simulations, announced this week that it has received a $12 million equity investment from The Exxel Group. Founded in 2001 by a former executive at Microsoft's Bungie games studio, Destineer has developed titles including "Close Combat," "Elite Warriors: Vietnam" and "Starship Troopers"; the company also develops virtual training simulations for government, military, and intelligence organizations around the world. "The venture capitalists of the videogame industry have traditionally been the large publishers, because they're the ones who have funded most game development until now," said Destineer CEO Paul Rinde. "But, this new trend of private-equity firms investing in the games industry gives creative companies like Destineer much more flexibility to make games the established publishers are less likely to create." The company will use the funds for several as yet unannounced titles for consoles and the PC, as well as to expand distribution and product development in Latin America.
http://www.destineerstudios.com/press/press_releases/exxel_announce.html
tags: Games | Destineer | Developer | Investment | Equity |



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