In return for a minority stake in the enlarged entity, Hands-On is injecting the bulk of its EMEA assets into Connect 2 Media, which is backed by leading London-based venture capital firm Acuity Capital LLP.
Hands-On and Connect 2 Media will maintain a reciprocal global publishing partnership ensuring both companies strengthen their global distribution capabilities. Connect 2 Media intends to build upon the success of Hands-On's web-to-wireless gaming efforts and extensive expertise in publishing, developing and distributing mobile games to consolidate its vision of offering games across multiple platforms incorporating mobile, web and interactive TV.
Additionally Acuity has invested £4.5m in Connect 2 Media to enable it to further develop opportunities across multiple platforms.