£7.76m investment boost for In2Games

£7.76m investment boost for In2Games
Michael French

By Michael French

June 11th 2007 at 12:30PM

Gametrak developer gets cash backing from Ingenious

Investment firm Ingenious has taken a big equity stake in Gametrak creator In2Games for £7.76m in order to help the company launch its new Fusion sensor games controller.

Comparable to the Wiimote, Gametrak Fusion introduces motion-sensing to PS3, Xbox 360 and PC platforms via wireless ultrasonic 3D motion sensing.

Ingenious' funding commitment includes an initial cash tranche of £4.56m with £3.2m to follow. Both hope that the funding will help In2Games launch the Fusion device around the world and aid development of dedicated games and secure support from third party publishers and other studios.

In2Games also hopes to expand its output of games software.

Patrick McKenna, Director of Ingenious Media Active Capital, commented: "We believe there is a really exciting opportunity ahead for In2Games to capitalise on key drivers of change in the video games market as they continue to roll out  innovative hardware combined with great software. In Gametrak Fusion, In2Games has created the definitive motion gaming platform for the next generation of games consoles and I look forward to this product driving the company into a period of rapid growth."

Elliott Myers, Managing Director, In2Games, added: "I am delighted to be working with Ingenious, who have extensive expertise and experience across the technology and media sectors. In2Games and Ingenious are ideally positioned to maximise the opportunities afforded by the Gametrak Fusion technology, and we look forward to making Gametrak Fusion the 'must have' videogame product for the new generation of gaming systems."