Boombang Games SL was introduced to agnitio through mutual industry contacts. Towards the end of 2009, Boombang began experiencing a significant revenue uplift, registrations and active users within its virtual world. Having attempted to raise funds for expansion in the past that proved unsuccessful, the Company engaged agnitio to solicit investment from European venture capital firms and leading online games publishers worldwide.
agnitio identified the leading European venture capital technology/game focused investors and global online games publishers that would be most interested in investing in Boombang to assist the company in establishing a global footprint and scaling the business for rapid growth. Ultimately the company decided to pursue a transaction with Nexon, one of the largest games publishers worldwide (and listed in Japan). agnitio structured, negotiated and executed the entire transaction on behalf of the company.
Terms were not publicly disclosed. agnitio continues to provide strategic advisory services to Boombang (managing financial and reporting requirements for Nexon) and is a minority investor and Board Observer.