AXA Private Equity buys equity stake in publisher BulkyPix
Investment to fund R&D, sales, and games
Mobile publisher BulkyPix has secured an undisclosed investment from AXA Private Equity.
It's claimed the working capital sourced from the private equity firm will be used to strengthen BulkyPix's research and development department, as well as increase its sales across the globe and expand its catalogue of games.
As a result, AXA Private Equity will also take an equity stake in the publisher, with AXA director Antoine Lacour describing BulkyPix as "one of the leading independent publishers in France and abroad."
Where the money goes"BulkyPix's founders are seasoned experts recognised in their market, and they have proven their ability to grow in a fast-changing sector fuelled by the explosion in smartphones, touch tablets, and social networking,” continued Lacour.
For BulkyPix's part, CEO Olivier Pierre said the deal with AXA Private Equity was not just a matter of raising funds, but also a question of finding backers that "champion the same values and share our vision of the market."
"The funds raised will not only enable us to step up our R&D efforts and thereby develop games and apps on multiple platforms at the same time, but also increase our footprint in France and abroad, and hone our image as an independent publisher," he concluded.
The size of AXA Private Equity's stake in BulkyPix - which currently employs 40 people and works with around 50 studios - was not disclosed.
