It was recently announced that ITV invested in the mobile gaming company Live Tech Games Ltd. According to reports, this infusion of $3.5 million will give ITV a minority stake in Live Tech Games.
The funds were given to Live Tech Games through Studio 55 Ventures, the investment arm of ITV. This program, which was launched last year, aims to enhance the company’s ability to reach the 16-34-year-old demographic.
“Live Tech Games is pioneering a new wave of mobile entertainment, creating live, player-vs-player, accessible, short-form games and transforming them into rewarding nationwide experiences on your mobile phone,” ITV said. “The company is developing simple games that are designed to bring the general public together in short five-to-10-minute bursts that enrich their daily routines.”
ITV plc is a British media broadcasting company that was founded in 2004. The organization currently trades on the London Stock Exchange under the ticker symbol “ITV.L”.