Xendex raises 2.3 Mn euro

Vienna: Xendex, one of Europe's mobile games developers has received an investment of 2.3 million euro in a first round of financing, by PONTIS Venture Partners, a venture capital company headquartered in Vienna, Austria, and a group of business angels. The former founders of 3United mobile solutions PLC, an Austrian company that was bought for 55 million euro in early 2006 by global market leader Verisign, are among the business angels.

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Founded in January 2001, Xendex was among the first companies in Europe to lead the booming mobile games industry. Xendex has become one of the most successful developers of high-quality mobile games, and has achieved international acclaim within the area of high-quality 3D games. With its comprehensive portfolio of more than 45 exceptional and award-winning games, Xendex has an outstanding position in the market, and counts many globally leading publishers to its client base. The motocross series "FMX" have had the greatest marketing success to date, selling over 2 million copies worldwide.

Xendex has received awards for its high-quality game development. Over the course of recent years, the company's titles were awarded prizes by the gaming press as well as mobile operators, such as the "Game of the Year" award from mobile service provider O2 in the UK. Leading German-speaking online magazine "airgamer.de" lists two Xendex titles as the top sports games of all times.

Further, Xendex is providing content services such as quality assurance, games distribution as well as portfolio- and portal management for mobile service providers and independent games portals. The primary geographical focus of this business area lies in Central- and Eastern European markets, and Xendex has generated a sales growth of 80 percent in the last year with over 70 channel partners, including T-Mobile, Orange and O2.

Dr. Christoph Breidert, investment manager at PONTIS, said, "It was not only the market successes as seen in recent times and the technically perfected and innovative production processes for mobile games; we were especially convinced by the positive feedback we received from the existing client base. We believe that Xendex is on its way to becoming a global player and wish to support it with our investment and know-how."
Source: IANS