Arktos Entertainment Group announced that 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.