LOS ANGELES, Oct. 12 /PRNewswire/ -- Arktos Entertainment Group today announced that they are leading a $5MM investment round in San Francisco-based online videogame developer, Online Warmongers LLC. Arktos Entertainment Group is a privately held Los Angeles based investment and holding company that provides investment as well as creative and production management support for companies in the interactive and online entertainment industries. Online Warmongers LLC will allocate the funding towards the development and distribution of their upcoming premium, free-to-play, online shooter game - "War Inc. Battlezone," set to be released late 2010. Sergey Titov, Arktos Entertainment Group's CEO led the round for the company and as a private investor.
"Online Warmongers has readily embraced the concept of a games-as-service model, something believed to be the future of games in both eastern and western markets," states Sergey Titov, CEO, Arktos Entertainment Group. "Their bold approach to game development and distribution clearly indicates that they understand the need for the implementation of new models to further the success of the industry as a whole."
Arktos Entertainment Group's funding commitment marks a major step towards bringing about the expansion of session-based, free-to-play, virtual item-based business models in the US.
"With our focus on delivering and operating core games as premium, live services, we are constantly adapting to our customers' needs," states Matt Candler, Online Warmonger's COO. "Arktos Entertainment Group's dedication and funding has enabled us the opportunity redefine the videogame business model to develop high quality games and to build strong global franchises."
Online Warmongers LLC's first free premium game "War Inc. Battlezone" is slated to launch in North America this winter.
About Online Warmongers LLC.
Online Warmongers LLC is an independent San Francisco Bay Area-based video game development company, funded through Arktos Entertainment Group. The studio was established in 2009 to develop innovative online next-generation titles for consoles and the PC. Online Warmongers LLC was formed by a group of industry veterans from EA, Activision, and Cryptic Studios with the vision of creating a high quality, free to play, online games.
About Arktos Entertainment Group.
Arktos Entertainment Group (www.arktosentertainment.com) is a privately held Los Angeles based investment and holding company, providing investment as well as creative and production management support for companies in the interactive and online entertainment industries. Arktos Entertainment Group also supports a variety of R&D projects as well as technological development for new emerging game styles and systems. With a growing team of experienced industry veterans and highly motivated new talent, Arktos Entertainment Group is well placed to help companies with their game development and financing needs. Arktos Entertainment Group acquired Void Production LLC, a California based premier developer of game technologies for massive multiplayer online games. Since the acquisition VP LLC is now a part of Arktos Entertainment Group.
SOURCE Arktos Entertainment Group