State Of Emergency 2 Announced!
|VIS entertainment has successfully completed the financing of a funding vehicle for the development of the sequel to its million-selling game, State of Emergency.
VIS entertainment has successfully completed the
financing of a funding vehicle for the development of the sequel to its
million-selling game, State of Emergency.
Numerous shareholders in VIS
have backed a new special-function company which will provide project finance
for State of Emergency 2, enabling VIS to complete development and negotiate
terms with a publisher.
It is envisaged that the sequel will be launched
in late 2004.
The deal is unique to the games industry. The separate
company will effectively act as project funder, bridging the gap between
development and a publishing deal.
"This special arrangement is a
demonstration of the faith which our investors have in VIS," commented Chris van
der Kuyl, President and CEO of VIS. "Now we will concentrate on bringing State
of Emergency 2 to market while negotiating with publishers from a position of
strength. The first game topped the UK and US charts at its launch last year and
sold well in excess of one million copies. We are confident that the sequel will
be even more successful."
Commenting on the successful fund raising, VIS
Chairman Ken Lewandowski, said: "We are delighted to be announcing this fund
raising as it now allows the company to focus on the job of delivering fantastic
games and building even bigger hit franchises.
"In addition to SoE 2, VIS
is working on some other incredibly exciting projects with major publishers for
release in 2004 and 2005. Whilst this has been a trying time for the company, I
am pleased to report that all our projects are on track with our publishing
In July VIS entertainment disclosed a programme of cost
savings and efficiencies which has reduced overheads by 25 per cent. The company
– which recently opened a new state-of-the-art studio in Edinburgh - has several
games titles in production for various platforms.