June 30, 2006
Virtuos expands gaming plan with new funds
We have all heard of outsourcing firms paying phenomenal salaries to its employees to acquire the best skills available in the industry. Apart from the salary, outsourcing vendors also need to invest heavily in developing infrastructure capabilities to present a happy picture for potential outsourcers. Together, this calls for a strong financial backup, without which vendors cannot hope to survive and expand production in the competitive market of today. Thus, with the conclusion of a new financial deal with Legend Holdings, it is a happy situation for game industry outsourcing firm Virtuos.
Barely eighteen months into production, Virtuos can now give an impetus to its next-gen game development plans. There is a big outsourcing opportunity in the gaming sector globally, and Virtuos aims to figure prominently in that market by increasing its team three-fold over the next two years and investing heavily into training, processes, security, and IT. Where will the money come from? You guessed it, its from new financial partner Legend Holdings. Gamasutra cites market research firm Screen Digest:
[The outsourcing opportunity within the game industry] will reach $1.1 billion by the end of 2006 and is set to grow to $2.5 billion by 2010, representing around 40 percent of total game development spend.
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