Samsung Leads Ubitus New Round Financing to Push Cloud Gaming to Next Level
TAIPEI, Taiwan, May 13, 2013 /PRNewswire/ -- Ubitus Inc., the worldwide technology leader in cloud gaming solutions, today announced it has raised over $15 million cash from multiple international leading investors including Samsung Venture Investment Corporation (Samsung Ventures) for further spearheading the push of cloud gaming to next level.
Since its first cloud gaming deployment in Japan in September 2011, Ubitus had been leading the global market in deploying commercial cloud gaming services with top-tier carriers and OEMs spanning across the United States, Japan, South Korea and China (including Hong Kong).
Backed by the solid market-proven track records, the new round funding led by Samsung Ventures, the venture capital arm of the Samsung Group with mandate to invest in companies that are closely tied to the overall strategy of Samsung Group, will further support Ubitus' determined endeavor in advancing the cloud gaming to an unprecedented level especially in the TV market.
"We are delighted that leading investors like Samsung Ventures shares Ubitus' conviction that making video games playing as accessible as the movie and music streaming services nowadays can forever change the way people enjoy games in the past 20 years," said Wesley Kuo, CEO of Ubitus.
Going forward, with the new investment garnered, Ubitus is committed to take cloud gaming to next level by building new gaming experiences with more instant and social features that are expected to roll out in Q3 this year.
About Ubitus Inc.
Ubitus Inc., the technology leader in deploying cloud-enabled rich media services, offers innovative cloud computing solutions for device manufacturers, wired/wireless communication service providers, telecommunication operators and digital content developers. Founded in 2007 and headquartered in Taipei, Taiwan, the company now has over 200 employees and offices in United States, Japan, Korea and China.
About Samsung Venture Investment Corporation
Samsung Venture Investment Corporation manages investment and investment-related activities for Samsung affiliate companies. The investment mandate for Samsung Venture Investment Corporation tracks closely to the strategic priorities of Samsung affiliate companies' core operating divisions, and encompasses investments in semiconductors, displays, telecommunications, and consumer electronics.
SOURCE Ubitus Inc.
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