Virtuos, one of the world's largest outsourced services provider in the games industry, has closed a Series A stock financing round with Legend Capital, the independent VC firm under Legend Holdings, owner of Lenovo group.
"Legend Capital has made a series of successful investments in the outsourcing industry. This team has a unique vision for where the games industry is headed, so we are eager to share our experience base with them and help grow their business globally," said Xia Yang, Executive Director, Legend Capital.
New Access Capital is the exclusive financial advisor for this transaction, but the value of the transaction was not publicly disclosed.
In the 18 months since its inception, Virtuos says it has become one of the key players in games outsourcing with over 100 fulltime in-house game specialists. The company intends to expand the size of its teams as well as nurture a spirit of excellence to deliver the new service quality standards which the game industry requires to tackle the challenges of next generation game development.
"While Virtuos has been profitable since inception, we are excited to partner with a group as strong as Legend. We plan to use the new funding to triple the size of our teams in the next 2 years. Virtuos will also invest further in training, processes, security and IT to create a level of service never seen before in our industry," said Gilles Langourieux, CEO, Virtuos.