Partner Article

Game on for Eutechnyx expansion plans

A world-renowned North East games developer is creating at least ten new graduate jobs as part of its plans to lead the next phase of evolution in the global games industry.

Positive outcomes to Gateshead-based Eutechnyx’s ongoing negotiations with some of the biggest names in the digital entertainment industries could mean the final number created is four or five times that figure.

Managing director Brian Jobling said: “With the advent of digital content distribution, such as iTunes, the music industry has undergone a structural change, so that consumers can now download the songs they want directly from the Internet, without the performers behind them having to go through the traditional publishing, manufacturing and distribution routes.

“We’re now seeing the same sort of thing happening in the games industry, and we can see tremendous commercial opportunities for world-leading content creators like Eutechnyx offering top quality games directly to the public.

“We have already signed deals with some of the world’s largest brands, and this has only served to reinforce our belief that Eutechnyx can be at the forefront of future industry developments over the coming years.”

The company’s ambitions are being backed with a second tranche of investment capital from regional fund management firm NEL Fund Managers. After putting £250,000 into the company in 2006, which has helped the company increase its turnover from £3m at that time to £5m now, NEL is now investing a further £500,000.

Eutechnyx already employs around 90 people in Gateshead headquarters, as well as teams in their studios in Hong Kong, Chengdu in China and Pittsburgh, USA.

Nick Edgar, investment executive at NEL Capital, said: “Names like Eutechnyx are at the heart of our region’s thriving knowledge economy - the company has achieved a worldwide reputation and continuing commercial success from a north east base, and has the market knowledge and management expertise in place to help shape and benefit from future industry developments.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .