|RollerCoaster Tycoon and Elite dev Frontier raises £4m in sold shares|
|Posted: 15.07.2013 12:02 by Simon Priest||Comments: 1|
Frontier is now riding the very real rollercoaster that is the stock market as they hurl themselves into the Alternative Investment Market (AIM) of the London Stock Exchange. Total share worth? Around £39.4m.
Why is the Cambridge-based developer doing this? Simply to "expand its current business", which is doing pretty well for itself. They're debt free and working on Elite: Dangerous and Zoo Tycoon.
Elite: Dangerous was successfully flooded with over £1.6m in pledges proving there's a ravenous hunger for space simulators on PC, which Star Citizen .
As of May 31st this year, Frontier flexed £7.2 million in the bank with an additional £3 million available as credit from Barclays. Elite creator David Braben is grateful to all the investors since evolving into a public company.
"I am delighted by the level of support Frontier has received and by the calibre of our investors, whose participation in our IPO is a strong endorsement of the growth potential we have identified," said Braben.
"Frontier's admission to AIM, along with the funding we secured earlier this year, will support our efforts to further enhance the capabilities of our technology platform Cobra as the expansion of games into the mainstream entertainment industry and advent of digital distribution provide significant opportunity to generate further growth."
Elite: Dangerous is currently in the works for PC, but they're also juggling the next Zoo Tycoon for PC and Xbox One.
Maybe one day we'll get to see The Outsider actually release into the world, which is 'on hold'. It was set during modern day Washington D.C. and we played a CIA intelligence officer who
The last progress diary for Elite: Dangerous released back on June 8th.