Gaming, Motorsport.com Acquires 51% Interest in Interactive Project
Summary
Motorsport.com, a division of the Motorsport Network, acquired a 51% interest in Interactive Project, a Rome, Italy-based developer of motorsports-based games.As part of the agreement, whose amount was not disclosed, Interactive Project will oversee the development of exclusive Motorsport.com-branded Managerial and Fantasy video games targeted at multiple motorsports series, in multiple languages.The acquisition marks Motorsport Network’s strategic business entry into the video gaming sector, which is expected to help expand its global reach and enhance its development and distribution capability across its worldwide network.The company, which is funded by venture capital firm LVenture Group (listed on the Italian Stock Exchange) Lazio Innova and some business angels, also secured a number of publishing deals in Europe, China and Brazil.Formed in 1994, Motorsport.com is an international digital media group specializing in motor racing content offering 21 editions in 14 languages.