Updated: RealNetworks To Buy Online Casual Games Site GameTrust; Price About $20 Million
By Rafat Ali - Thu 27 Sep 2007 01:02 PM PST
Updated: Sep 27: The companies have announced the deal today, two days after we broke the story. The real price is around $20 million...we earlier reported “less than $50 million”, which of course it is. RNWK plans to offer GameTrust’s capabilities to its game syndication partners like Lifetime Television that currently distribute RealNetworks (NSDQ: RNWK) games.
Original Post: Sep 25: RealNetworks is making a smallish online gaming acquisition, paidContent.org has learned: NYC-based online casual gaming site Gametrust. While we don’t know the exact price, we do know it is less than $50 million. This for a company which raised nearly $20 million in three rounds.
GameTrust, founded in 2002, had a number of investors: TWJ Capital, NJTC Venture Fund, Patriot Capital, CSK Ventures, Topspin Partners, Silicon Alley Venture Partners, Draper Associates and investor Elon Musk. The company has, of late, positioned itself as a games community platform, and RealNetworks will possibly use the platform to develop community around its RealArcade and other game properties. It also powers prominent online gaming portals such as MiniClip.com and Shockwave.com with its Game Frame platform.
For more on the company, see this recent interview: ”Q&A: GameTrust’s Greechan Talks Captivating Casual Gamers”
Posted in: Companies, RNWK, Entertainment, Gaming, VC+M&A
