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Game Developer UDS Attracts 22 Million SEK in Funding from Institutional InvestorsNew funds will mainly be used for the UDS Group's continued growth (September 19, 2001)
The new funds will mainly be used for the UDS Group's continued growth, to continue building UDS' licence portfolio with strong brands like "Futurama", and especially for concept development and intensified marketing of UDS' new subsidiaries AddGames ('advertainment') and GlobalFun (online games). The Federation of Social Insurance Offices' (FKF) Pension Fund, Metropolis Technology Investments (MTI) and Skandia Life are the new institutional investors in UDS.
UDS has approx. 110 employees at four offices in two countries in Europe and expects to go public on the Swedish O-list within the next year, given the market's stability. UDS recently received its largest order ever, of 2 MUSD (21 MSEK), from German publisher CDV for an Xbox game to be launched next year.
UDS (Unique Development Studios) is one of the leading developers of video, computer and console games in the Nordic region with headquarters are located in Norrkoping in central Sweden. UDS has virtually doubled its sales every year the last few years with sustained profitability, and has the last year expanded organically (e.g. with the launch of its subsidiary GlobalFun for interactive entertainment products and a newly opened studio in Gothenburg), as well as through acquisitions (e.g. British developer King of The Jungle and Swedish 'advertainment' distributor AddGames).
"We are most pleased to have been able to attract such prestigious and competent investors to UDS, and we will certainly do our best to give them a good return on their investments. In my eyes, UDS is only in the beginning of an exciting and hopefully successful journey in one of the world's most fast-growing markets", said Thomas Lofblad, Managing Director, UDS.
"I would also like to add that the sole reason for us sending this release so soon after the terrible tragedy in New York, is that stock market regulations, which we already follow strictly as a listed company to be, stipulates immediate announcement of important company news. Had we had an option, we would naturally rather have delayed or cancelled the release. Our condolances and deepest sympathies go to the victims of the attack, and to their families."
UDS, Unique Development Studios AB, was founded in 1997 and is today one of Scandinavia's leading developers of computer, video and console games. UDS has approx. 110 employees at its offices in Norrkoping, Stockholm, Gothenburg and in Britain. UDS is owned by its founders and employees, and by Slottsbacken Venture Capital, Nordico Invest and Banc of America in addition to the new owners mentioned above.
UDS has well established partnerships with many of the leading publishing companies in the world and recently received its largest order ever - for 2 MUSD for a computer game called "Core" to be distributed by German publisher CDV all over the world.
GlobalFun, which is a fully-owned subsidiary of UDS, develops and supplies interactive entertainment products for the world market, e.g. via its own en "gaming community" on the Internet. GlobalFun will also market UDS-developed games for digital TV and cellular phones.
The UDS Entertainment Group also contains AddGames, which markets and distributes ad-financed computer games ('advertainment') for the world market. AddGames is a recent acquisition.
The world market for computer games is expected to grow by more than 70 per cent and be worth 86 billion US dollars by 2006 (Informa Media Group). The market for online games is expected to increase to 6 billlion US dollars within four years. Entertainment via the mobile phone will overtake information and communication to become the most lucrative mContent revenue stream globally in 2005 (Datamonitor).
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