September 21st, 2010 by Arjan Olsder Posted in Companies & M&A, People | No Comments »
While we only just reported that Eric Hobson had left Connect2media, we now have received the full press release detailing the changes and the investment into the company.
First off, Alexander is now officially a board member and will serve as Executive Chairman. The role of CEO is seemingly left empty for now. Nick is not new to the company as he has been active as a consultant to the company for some time already.
“I am very pleased to be more involved with Connect2media at this important time in the company’s growth,” said Nick Alexander. “My background and experience with Player X should provide useful perspectives as the company considers its next stage of growth in North America and the development of PrizePlay”.
The new investments are indeed coming from YFM Private Equity and incumbent investor Acuity Capital. They will help C2M expand their business in North America where the company recently acquired Sennari and has their PrizePlay services available.
Paul Gower, Investment Manager at YFM, commented: “The US has huge market potential for Connect2Media with their line-up of casual and branded mobile game titles. The addition of PrizePlay makes their offer even stronger and makes them a very attractive investment proposition, as a company capable of driving strong top line and bottom line growth”.
