Computer games middleware company, Geomerics has completed a corporate partnership with a mystery partner, unlocking the last tranche of a total investment of £2.3m.
Cambridge-based Geomerics has developed Enlighten, a real-time lighting engine for virtual worlds. The technology is used in some of the games industry's biggest titles, including Battlefield 3 and Need for Speed.
The identity of Geomerics’ corporate partner is still not being revealed, described in a press statement as “one of the world’s leading technology companies.” Geomerics’ portfolio of partners is already pretty impressive.
While the name of the corporate partner and some terms of the deal - first announced in July 2010 - remain subject to “strict confidentiality,” it is being revealed that Geomerics has now received all of the £1m milestone-dependent element of the investment package, £2.3m in total and that the partners continue to work closely together.
AIM-listed technology commercialisation company, ANGLE, which owns 31 per cent of Geomerics said in an announcement to the stock exchange: “The corporate partnership has resulted in the development of new capabilities to make Geomerics products ‘next generation technology ready.’”
Andrew Newland, chief executive of ANGLE said: “We are pleased to see the completion of the third and final milestone and the widening recognition and adoption by the computer games market of Enlighten, the real-time lighting solution developed by Geomerics.”
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