Game Trust Sold to Real Networks
Should have posted this last week. So now we have 2 IPOs (one sold to WPP), and one company sold to a media company. I’m counting on VideoAdGames (soon to be renamed) to be my biggest hit yet! I had the pleasure of working with some very talented people at Game Trust. After I left GT, Neal Sinno (who I worked with at LivePerson) did a phenomenal job of doing deals post our signing of AOL.
RealNetworks to Acquire Game Trust: Real’s Casual Games Syndication Partners Will Benefit from Game Trust’s Customizable Community and Commerce Technology Platform
SEATTLE, Sept. 27 /PRNewswire-FirstCall/ — Digital entertainment services company RealNetworks(R), Inc. (Nasdaq: RNWK) today announced it has entered into an agreement to acquire Game Trust, Inc, a casual game infrastructure company based in New York. Real plans to add Game Trust’s innovative community and commerce capabilities to the technology platform currently offered to Real’s games syndication partners. The transaction is expected to close early in the fourth quarter. "Our partners want to add social networking to their sites to further engage their game players," said Harold Zeitz, senior vice president for Real’s Games Division. "This acquisition will create enhanced consumer experiences for our partners’ offerings and for Real’s casual games players." Real powers more than 200 casual games channels owned by popular media outlets and portal companies worldwide. "We are very excited to join Real and push the casual games industry forward," said Adeo Ressi, CEO of Game Trust. "This agreement unites the industry’s top content, top distribution, and top technology platform. The players will ultimately benefit." "Social networking is a critical next step for the casual games industry and for Lifetime," said Kris Soumas, vice president of Games at Lifetime, the leading network for women and a top syndication partner with Real. "We’re looking forward to implementing Game Trust’s technology with Real to enhance our extremely popular games section and strengthen the sense of community on LifetimeTV.com." Nielsen/NetRatings recently reported that online players of casual games are 30 percent more likely than adult Internet users overall to participate in bulletin boards and 75 percent more likely to visit a chat room to interact with friends or family. "Social networking will be a catalyst for the next wave of casual games growth," said James Kuai, a research analyst at Parks Associates. "This new partnership demonstrates how industry leaders like RealNetworks are capitalizing on the growing popularity of social networking and community to provide a richer experience for casual games audiences." Game Trust’s Game Frame platform is the industry-leading software platform for community, affinity, and commerce models in online casual games. Game Trust syndicates the platform to leading media companies around the world. Real will continue to support and strengthen these partnerships.