Mindark plans IPO

Mindark plans IPO
Michael French

By Michael French

December 5th 2007 at 10:02AM

Swedish virtual world firm plans to go public

The developer of virtual world Entropia Universe, Mindark, has announced it is planning to take its company public.

The Swedish firm said the move will help fund the company's growth and help push its MMO.

Jan Welter, CEO of MindArk, said: "As a publicly traded company MindArk will be able to acquire intellectual property and make strategic acquisitions that will enhance and expand Entropia Universe as the leading Virtual platform for Entertainment, Commerce, Education and Avatar Development.

"The IPO will also give us an opportunity to substantially expand our development team and to further develop our many current virtual systems and user tools employed by users to engage in commerce, as well as to develop new ones."