DST and 1C Invest $5 Million In Nival Network
Yuri Millner’s Digital Sky Technology has reportedly invested $4 million for a minority stake in Nival Network, the online gaming division company of Nival Group. The company focuses on the increasingly popular browser-based gaming and massively multiplayer segments. Established in September, 2008, the company operates its own Russian online gaming and social networking portal, ZZima.com. Its portfolio includes titles as MMORPGs Cabal Online, Dragonica, Shaiya: Light and Darkness, Conquer Online and Eudemons, multiplayer racer Level-R, browser-based strategy game Khan Wars, music title Super Star and RockFree. Nival Network owns development studios in Moscow (Russia) and Minsk (Belarus).
As part of the investment agreement, Nival Network will issue $7 million in new shares and the entire company will be valued at $32 million. DST is purchasing 12.5% of the company for $4 million and the ownership stake of existing shareholders will be reduced. 1C, investing $1 million in the second round will be reduced from 30% to 26.56% and Talco Global (controlled by Nival founder Orlovskiy), will invest an additional $2 million and will be reduced from 70% to 60.94% .
DST and 1C have not officially commented on the terms of the deal to date.
[Via Vedemosti]
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