This is a discussion on Temasek to buy games studio within the Local & Foreign Issues forum, part of the Community Lounge category; TEMASEK Holdings is making a play for a slice of the booming online gaming business. The sovereign fund is heading ...
TEMASEK Holdings is making a play for a slice of the booming online gaming business.
The sovereign fund is heading a consortium of investors set to pump US$60 million (S$77 million) into United States-based online gaming studio Gazillion Entertainment.
The privately held firm, which last month launched Lego Universe, an online game based on the building block toy, is currently working on a Marvel Entertainment superhero title called Super Hero Squad Online, slated to be released early next year.
Gazillion chief executive Rob Hutter, who has hailed massively multiplayer online (MMO) games as one of the most profitable entertainment sectors in the world, welcomed Temasek's investment 'as we enter a key phase of expansion for the company'.
Although better known for its punts on financial heavyweights such as Standard Chartered and technology players like SingTel, Temasek is no newbie to the digital entertainment space.
In 2008, it spent US$100 million buying an undisclosed stake in Chinese online games operator 9you.com. And late last year, it acquired a 5.53 per cent stake in Shanda, another Chinese gaming company.
Temasek to buy games studio