Finland’s Rightware makes acquisition and raises €3M

13 Jan 2010 | News

Acquisition | Funding

Rightware Oy has been founded to acquire the Mobile and Embedded business unit of games developer Futuremark Corporation, and has at the same time raised €3 million in venture capital investment from Inventure Oy and Nexit Ventures Oy.

The money will allow Rightware to accelerate development and marketing of Kanzi, a 3D graphical user interface for mobile phones and automotive applications, and of Futuremark’s device performance measurement products and services for mobile and embedded industries.

Kanzi enables manufacturers of mobile phones and in car display and information/entertainment systems to create improved user interfaces in less time than with conventional tools and methods.

In the deal all of Futuremark’s mobile and embedded intellectual property, assets and liabilities are transferred to Rightware.

Rightware’s founder and CEO Tero Sarkkinen, a graduate of the Helsinki School of Economics, was previously CEO of Futuremark and has worked in numerous roles both in Europe and Silicon Valley, California, in the mobile and computer industries. “Rightware is now properly capitalised and has deeply talented staff,” said Sarkkinen. “Now we’re able to accelerate our product development and sales.”

“With the growing emphasis on great user experience and interactivity, we believe in the rapid growth of the smartphone and automotive user interface markets,” said Artturi Tarjanne of Nexit Ventures, member of the board of Rightware and Chairman of the board of Futuremark. “This spinoff creates a strong company to pursue this business while Futuremark is able to fully focus on the game development and PC Benchmarks businesses.”

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