TEL AVIV, Oct 6 (Reuters) - Israel’s Infinity I-China Fund said on Monday it has invested $20 million in Oberon Media, an investment that will help the maker of gaming platforms expand into China.
The investment is part of a global strategy for Oberon Media and Infinity to expand the casual game publishing and distribution business and establish new partnerships in China.
“We have identified the gaming field as a strategic cluster for investments,” Amir Gal-Or, managing partner of the Infinity I-China Fund, said in a statement.
“China, which has a strong and rapidly growing local gaming market with more than $2 billion in annual sales and 50 million users, is building a reputation as an emerging site for game development studios.”
Oberon Media is based in New York and its research and development is located in Israel.
It has two main activities: gaming platforms, which offer management, billing and advertising tools; and casual game publishing, which covers production, development and distribution of games across all platforms — online, mobile, Internet TV and retail.
“Expanding our business into China is an important part of Oberon Media’s global strategy,” said Tal Kerret, chairman of Oberon Media.
Oberon Media is backed by Goldman Sachs, Morgan Stanley and Oak Investment Partners.
Infinity was founded by IDB Development IDBD.TA subsidiary Clal Industries CII.TA and China’s SVG Group. (Reporting by Tova Cohen; Editing by Quentin Bryar)